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Calculate the annual payment of a $55,000 tractor on a five year note given a 6 percent interest rate compounded annually. 4. Given the problem

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Calculate the annual payment of a $55,000 tractor on a five year note given a 6 percent interest rate compounded annually. 4. Given the problem above calculate the amortization schedule for the loan for all five years. 5. Given Problem 3| above, what would the payoff be after three years with an 8 percent interest rate on the loan

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