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3. A loan of $2,000 is being repaid with five annual payments at the end ot each years at an annual interest rate of 8%.

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3. A loan of $2,000 is being repaid with five annual payments at the end ot each years at an annual interest rate of 8%. (a) Create a complete amortization table for this loan' (b) What is the total amount of interest paid on this loan? (c) Find the outstanding balane of the loan at the end of year 2 using the retro- spective met hod (d) Find the outstanding balance of the loan at the end of year 3 using the prospec- tive method

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