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(Calculating annulty payments) Jamie Oliver has just graduated and found a job. He had taken a student loan of $40,000 to pay for his university.

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(Calculating annulty payments) Jamie Oliver has just graduated and found a job. He had taken a student loan of $40,000 to pay for his university. He has decided to pay off this loan by making equal annual payments over the next 20 years. If the loan charges him compound interest at 8 percent per annum, what is the annual amount, including interest and principal, that he needs to repay

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