If you borrow 1300 and agree to repay the loan in five, Financial Management

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If you borrow 1300 and agree to repay the loan in five

A. If you borrow $1,300 and agree to repay the loan in five equal annual payments at an interest rate of 12%, what will your payment be?

B. What will your payment be if you make the first payment on the loan immediately instead of at the end of the first year?

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Financial Management: If you borrow 1300 and agree to repay the loan in five

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