Calculate the annual payment required and prepare the, Financial Management

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Calculate the annual payment required and prepare the

On January 1, 2017 ABC Corp borrowed $82900 by signing an installment loan. The loan will be repaid in 21 equal payments, one at the beginning of each year. The first payment is made on January 1, 2017. The interest rate for the loan is 5%. Calculate the annual payment required and prepare the amortization table for the loan.

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