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4. (4pts) Alan has borrowed $10,000 for four years on which interest is charged at 7% effective. Alan is accumulating a sinking fund at 6%

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4. (4pts) Alan has borrowed $10,000 for four years on which interest is charged at 7% effective. Alan is accumulating a sinking fund at 6% to repay the loan. Make a sinking fund schedule for Alan's loan. Year (since loan) 0 Interest on loan Sinking fund deposit Interest on S.F. S.F. balance after deposit Net balance on loan 3

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