A Japanese carmaker plans to expand its production in the United States. The company borrowed $170 million for this expansion at an interest rate of 8% per year. The loan will be repaid in equal payments at the end of each year over a 15- year period. What is the amount of the annual payment?

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The Answer of A Japanese carmaker plans to expand its production in the United States. The company borrowed $170 million for this expansion at an interest rate of 8% per year. The loan will be repaid in equal payments at the end of each year over a 15- year period. What is the amount of the annual payment?

A Japanese Carmaker Plans to Expand Its Production in the United