A farmer purchased 255 acres of land for $4,100/acre. He paid 25% down and obtained...
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Accounting
A farmer purchased 255 acres of land for $4,100/acre. He paid 25% down and obtained a loan for the balance at 6.75% APR over a 20-year period. How much is the annual payment? (Simplify your answer completely. Round your answer to the nearest cent.)
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