Mathematics, 28.08.2021 03:40 heyItsLuna234

(Annuity payments) A firm borrows $40,000 from the bank at 8 percent compounded annually to purchase some new machinery. This loan is to be repaid in equal annual installments at the end of each year over the next 13 years. How much will each annual payment be? The amount of each annual payment will be ?

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