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Amortization with Equal Payments: You have borrowed a five-year loan of $77,500. The interest rate is 8 percent per year, and the loan calls for

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Amortization with Equal Payments: You have borrowed a five-year loan of $77,500. The interest rate is 8 percent per year, and the loan calls for equal annual payments. 1) What is the PMT? 2) How much total interest is paid over the life of the loan? 3) Show the amortization Schedule

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