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(1 point) A loan requires annual payments of 478 at the end of each year for 5 year. The effective annual interest rate is 6.16%.

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(1 point) A loan requires annual payments of 478 at the end of each year for 5 year. The effective annual interest rate is 6.16%. Complete the amortization schedule below. (Hint: you should find the time 0 balance first) End of Year Payment Interest Principal Balance 0 --- 1 2 3 4 5

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