You lend $400,000 to your friend for seven years. According to the agreement, your friend has...

You lend $400,000 to your friend for seven years. According to the agreement, your friend has to repay $89,000 annually for the first four years with a fixed interest rate of 15% compounded annually. Your friend tries to bargain for a 13% charged for the remaining periods. What should be the annual repayment for the last three years?

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jeff jeffy answered 1 year ago

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