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Assume the calculator is set to END of period unless stated otherwise.

A farmer just bought a brand new truck from the local Chevrolet dealership at a price of $65,000. A) The farmer receives income annually so he wants to know what the annual payments would be on a $65,000 loan over 6 years at 5% (payments made at the end of each year). B) How much interest will the farmer pay over the life of the loan if the annual payments are made on time? ++++++++++++++++ (Show all work and steps)