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1) Given the following information: Two year loan, loan proceeds of $4,800, interest on the loan is 8%. Calculate the interest and principle replacement payments.

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1) Given the following information: Two year loan, loan proceeds of $4,800, interest on the loan is 8%. Calculate the interest and principle replacement payments. If answers end up being wrong, you must have shown the math to get any partial credit. [3 points] Annual Ending Year Beginning balance Interest Principle payment repayment balance 2 Total

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