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Determine the equal, annual, end-of-year payment required each year over the life of the loans shown in the following table to repay them fully during
Determine the equal, annual, end-of-year payment required each year over the life of the loans shown in the following table to repay them fully during the stated term of the loan.
principle = 12000
rate of interest= 8%
no. of years n = 3
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