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A bank just approved your small business loan for $25,000. The loan has an interest rate of 7.5% and will be repaid with 10 end-of-year

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A bank just approved your small business loan for $25,000. The loan has an interest rate of 7.5% and will be repaid with 10 end-of-year payments. What is the required annual loan payment? O $2,980.59 O $4,373.14 O $3,642.15 O $4,271.33 0 $4,572.23 Halfway through the loan's life, what is the loan's remaining balance? O $17,513 O $18,018 O $17,342 O $14,736 O $11,901 What percentage of the total payments made during the first five years will be made toward interest? O 39.34% O 45.66% O 41.53% O 43.64% O 47.59%

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