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4. I can get a 600,000 loan for 12 years. Payments are annual. The sum of the payments for each of the following two options

4. I can get a 600,000 loan for 12 years. Payments are annual. The sum of the payments for each of the following two options is the same. Option 1. Equal payments at.07 annual effective interest rate Option 2 Principal payments of 50,000 are made each year along with interest on the outstanding loan balance at AEIRi Please find

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