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A $1000 loan is being repaid by payments of R at the end of each year for 4 years with the effective interest rate 6%.

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A $1000 loan is being repaid by payments of R at the end of each year for 4 years with the effective interest rate 6%. Please calculate the payment amount R and give the Amortization Schedule as follows. Loan balance perio repayment in Interest in principle in d each period repayment repayment 0 1000 1 2 3 4 0 Total

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