Business, 05.11.2020 19:10, skgoldsmith

A loan of $1000 is to be paid off in 10 equal annual payments. The interest rate is 5% per year compounded annually. A) If the first payment is made at EOY 1, what is the annual payment?
B) If the first payment is made at EOY 0, what is the annual payment?

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A loan of $1000 is to be paid off in 10 equal annual payments. The interest rate is 5% per year comp...