Suppose a company borrows $1 million and pays off this 10-year, 5% interest loan in end-of-year payments of $113,603.66 each. This loan is fully amortized at the end of the ten years.

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The Answer of Suppose a company borrows $1 million and pays off this 10-year, 5% interest loan in end-of-year payments of $113,603.66 each. This loan is fully amortized at the end of the ten years.

Suppose a Company Borrows $1 Million and Pays Off This