Business, 01.02.2021 22:30, erik1franks
g A loan is taken to purchase experimental supplies for development of a personal device that can be used to obtain clean water from many common contaminated sources. The loan is for $180,000 and is to be paid back in equal annual amounts over a period of 4 years at an annual rate of 6.5% Since income is projected to be slow in the earlier years, it is proposed to pay back the loan starting with only $18,000 in year 1 and increasing the payment by an equal amount $G each year for years 2, 3, and 4. What is the value of $G that makes these payments equivalent to the equal annual amounts
Answers: 1
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