question archive Big Brothers, Inc
Big Brothers, Inc
Subject:BusinessPrice: Bought3
Big Brothers, Inc. borrows $490,662 from the bank at 5.39 percent per year, compounded annually, to purchase new machinery. This loan is to be repaid in equal annual installments at the end of each year over the next 4 years. How much will each annual payment be? Round the answer to two decmial places.
