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Annual Payment Assignment | Homework For You

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June 9th, 2020

Robert is repaying a debt with 18 annual payments of 1200 dollars each, the first coming a year from now. At the end of the 4th year, he makes an extra payment of 2400 dollars. He then shortens his remaining payment period by 2 years, and makes level payments over the remaining time. If the effective rate of interest is 8.3 percent, how large is his new annual payment?Get Finance homework help todayHomework For You

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