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Aflack Inc. borrowed $20,000 and agreed to pay off the loan over 5 years by making equal year-end payments, compounded a
Posted: Sun Apr 17, 2022 7:08 pm
by answerhappygod
- Aflack Inc Borrowed 20 000 And Agreed To Pay Off The Loan Over 5 Years By Making Equal Year End Payments Compounded A 1 (19.35 KiB) Viewed 18 times
Aflack Inc. borrowed $20,000 and agreed to pay off the loan over 5 years by making equal year-end payments, compounded annually at 10%. a. What is the annual payment amount? b. What is the annual payment amount if the interest rate increased to 12%? • Round answers to the nearest whole dollar. • Do not use a negative sign with your answer. O a. $ b. $ 0