7. You borrow $10,000 at 14 percent for 4 years. The loan is repayable in four equal...
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7. You borrow $10,000 at 14 percent for 4 years. The loan is repayable in four equal installments at year ends.
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a. What is the annual payment that will completely amortize the loan over 4 years? (You may wish to round to the nearest dollar.)
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