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11. Sammy and Ruby Loveapet wish to purchase a new car. The car will cost $48,000. Their lender will provide a loan at 11 percent

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11. Sammy and Ruby Loveapet wish to purchase a new car. The car will cost $48,000. Their lender will provide a loan at 11 percent compounded annually, and the loan will be paid off in three annual end-of-year payments over three years. The Loveapet's will put a downpayment of $5,000 on the auto and wish to know the following: a. How much are their annual payments? b. How much will be paid to the lender for interest each year? c. What will their loan balance be at the end of each year? 12. Find the future or compound value of a $250, ordinary annuity over five years at 8 percent annual interest if the payment at the end of year'3 is omitted 250 250 0 250 250 tz ts

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