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A three-year loan of $87,000 to be paid off. You will pay equal amount on an annual basis. The annual interest rate is 10 percent.

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A three-year loan of $87,000 to be paid off. You will pay equal amount on an annual basis. The annual interest rate is 10 percent. Then the interest component of your annual payment increases after the first year. 55 True or Fake True False

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