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Consider a loan of $ 9 6 , 0 0 0 at 5 % compounded annually, with 1 2 annual payments. Find the following. (
Consider a loan of $ at compounded annually, with annual payments. Find the following.
a the payment necessary to amortize the loan
b the total payments and the total amount of interest paid based on the calculated annual payments
c the total payments and total amount of interest paidbased upon an amortization table.
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