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A loan of $1,000 is repaid by equal annual amounts of principal for 10 years and annual interest of 7% on the outstanding balance. (a)

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A loan of $1,000 is repaid by equal annual amounts of principal for 10 years and annual interest of 7% on the outstanding balance. (a) What is the schedule of loan payments? (b) What is the PV of the payments in (a) at 7% effective? (c) What is the purchase price of this loan to yield 5% effective

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