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Determine the equal, annual, end-of-year payment required over the life of the following loans to repay them fully during the stated term. Annual Payment ($)

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Determine the equal, annual, end-of-year payment required over the life of the following loans to repay them fully during the stated term. Annual Payment ($) Loan A B Interest Principal ($) Rate (%) 40,000 8 50.000 13 Term of Loan (Yrs) 16 5

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