As a result of certain debt obligation a company must pay $15000 a year for the...

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As a result of certain debt obligation a company must pay $15000a year for the next 10 years. The next payment is due one year fromnow. The company wants to cancel this debt over the next 4 years.If the interest rate is 9% compounded annually, what is the paymentfor the next 4 years?

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As a result of certain debt obligation a company must pay $15000a year for the next 10 years. The next payment is due one year fromnow. The company wants to cancel this debt over the next 4 years.If the interest rate is 9% compounded annually, what is the paymentfor the next 4 years?

As a result of certain debt obligation a company must pay $15000 a year for the...

60.1K

Verified Solution

Question

Finance

As a result of certain debt obligation a company must pay $15000a year for the next 10 years. The next payment is due one year fromnow. The company wants to cancel this debt over the next 4 years.If the interest rate is 9% compounded annually, what is the paymentfor the next 4 years?

Answer & Explanation Solved by verified expert

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