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1 (5 points) You amortize a $50,000 loan over 10 years with annual payments and an annual rate of 7%. Assuming equal annual payments, how

1 (5 points) You amortize a $50,000 loan over 10 years with annual payments and an annual rate of 7%. Assuming equal annual payments, how much would you pay in principal the first year? $5,000.00 $14,237.75 $3,500.00 $7,118.875 $3,618.875

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