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Problem 6-9 Calculating Annuity Values (LO2) Erindale Bank offers you a $57,000, six-year term loan at 8.0% annual interest. What will your annual loan payment be? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Annual loan payment $

Problem 6-9 Calculating Annuity Values (LO2) Erindale Bank offers you a $57,000, six-year term loan at 8.0% annual interest. What will your annual loan payment be? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Annual loan payment $

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Problem 6-9 Calculating Annuity Values (LO2) Erindale Bank offers you a $57,000, six-year term loan at 8.0% annual interest. What will your annual loan payment be? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Annual loan payment $
Transcribed Image Text:Problem 6-9 Calculating Annuity Values (LO2) Erindale Bank offers you a $57,000, six-year term loan at 8.0% annual interest. What will your annual loan payment be? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Annual loan payment $
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