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10. TI Calculator Graded Problem Set A bank just approved your small business loan for $30,000. The loan has an interest rate of 6.5% and

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10. TI Calculator Graded Problem Set A bank just approved your small business loan for $30,000. The loan has an interest rate of 6.5% and will be repaid with 10 end-of-year payments. What is the required annual loan payment? $3,642.15 $4,173.14 $4,456.43 $4,271.33 $3,254.91 Halfway through the loan's life, what is the loan's remaining balance? $13,339 $17,342 $14,736 $17,513 $15,557 What percentage of the total payments made during the first five years will be made toward interest? 54.56% 43.64% 39.34% 41.53% 52.93%

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