an organization has a loaned BD 820,000 to buy the needed machines. The loan holds an interest rate of 5% per year and is to be returned in equal payments over the next seven years. calculate the amount of the annual installment. solve the problem showing cash flow, and final answer using a suitable formula.

an organization has a loaned BD 820,000 to buy the needed machines. The loan holds an interest rate of 5% per year and is to be returned in equal payments over the next seven years. calculate the amount of the annual installment. solve the problem showing cash flow, and final answer using a suitable formula.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 19P

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