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5. (2 points) A company borrowed $107,512,000 for a plant expansion and repaid the loan in 15 annual payments of $14,135,000,

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Solution Bvwing amount - 107, 512, Annu eelent pay ment Gtven: 14,351 00O Time pesisd PIA i 15) e i07, 512,000 14,135, 0o O(P/A,, Is) 7 60608 From interest tables in PlA Column n15, get tinterest rate = 1o we (Poin apad interet Total amount ofinterhere, interept for 1 y D7512 oo 15 year, Hs = 1612 68000 Tertal amont f interest Paid 07512 00O + 1612 68o00 28780000

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