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A firm borrows $100,000 under a 3 year agreement at 12 % interest. The loan requires annual payme

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A firm borrows $100,000 under a 3 year agreement at 12 % interest. The loan requires annual payments of $25,000 at the end of years 1 and 2. What is the payment required at the end of year three with this balloon loan?

 

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Sep 21, 2019

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