Assignment:
To finance a new product line, a company that makes high-temperature ball bearings borrowed $1.8 million at 10% per year interest. If the company repaid the loan in a lump sum amount after 2 years, what was the amount of the payment? Use Factor Formula.
Your answer must be typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.