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| 4/25/16 600 5. If you borrowed $10,000 from a bank today at 7% rate, you plan to pay it back within 5 years. Part

| 4/25/16 600 5. If you borrowed $10,000 from a bank today at 7% rate, you plan to pay it back within 5 years. Part a) How much is your annual payment? Part b) How much is your principle ending balance at year 2

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