How much should be paid each year
Problem
You desire to repay a loan of $50,000 in 30 equal annual installments, where the loan earns interest at the rate of 7% per year. How much should be paid each year?
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You desire to repay a loan of $50,000 in 30 equal annual installments, where loan earns interest at the rate of 7% per year. How much should be paid each year?
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