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A borrower takes a loan of 200,000 over 20 years to purchase a property. Repayments are made annually in arrear, and payments increase by 5%

A borrower takes a loan of 200,000 over 20 years to purchase a property. Repayments are made annually in arrear, and payments increase by 5% of the first payment at the end of each of years 2 to 10. The lender charges 6% interest per annum effective.

Create a loan schedule.

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