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5-41 Time value of money Answer the following questions (L). 1. Suppose you borrow $15,000. The loan's annual interest rate is 8%, and it requires

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5-41 Time value of money
Answer the following questions (L).
1. Suppose you borrow $15,000. The loan's annual interest rate is 8%, and it requires four equal end-of-year payments. Set up an amortization schedule that shows the annual payments, interest payments, principal repayments, and beginning and ending loan balances

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