Big Brothers, Inc. borrows $131,221 from the bank at 11.83 percent per year, compounded annually, to purchase machinery.
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Get it written →Big Brothers, Inc. borrows $131,221 from the bank at 11.83 percent per year, compounded annually, to purchase 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 decimal places.
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