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a. If you take out an amortized loan of $35,000 with a 9 year term and 6.8% interest rate, what are the annual payments you

a. If you take out an amortized loan of $35,000 with a 9 year term and 6.8% interest rate, what are the annual payments you need to make? Round to the nearest cent.

b. Suppose you take out a $15,000 7-year balloon loan from a bank at an interest rate of 6.9%. What will be the balloon payment at the end of the loan term? Round to the nearest cent.

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