Ace will pay 7 interest but will make no payments for 4, Business Economics

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Ace will pay 7 interest but will make no payments for 4

Ace Manufacturing is building a new facility that will cost $44M. Ace will borrow $40M from First National Bank and pay the remainder immediately as a down payment. Ace will pay 7% interest but will make no payments for 4 years, at which time the entire amount will be due. How large will Ace's payment be?

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Business Economics: Ace will pay 7 interest but will make no payments for 4

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Business Economics: Ace will pay 7 interest but will make no payments for 4

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