Business, 30.08.2020 14:01, chickenhead123

Axl will be borrowing $300,000 today to buy a house, and he will pay it back with 20 yearly payments starting one year from today. If the effective annual interest rate is 7%, how much will the first payment be if the annual payments are constant

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Axl will be borrowing $300,000 today to buy a house, and he will pay it back with 20 yearly payments...