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2-2 You borrow $20,000 at an annual interest rate of 8%. You will pay the loan back in two equal payments at the end of
2-2 You borrow $20,000 at an annual interest rate of 8%. You will pay the loan back in two equal payments at the end of year 1 and year 4 a. Calculate the amount to be paid each year using the factor tables. b. Draw the fully labeled cash flow diagram. e. Complete the following table BOY Balance Interest amount BOY+Interest) Payment Total EOY EOY Balance Year 0
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