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DO NOT USE EXCEL TO SOLVE THE PROBLEM. I CANNOT USE EXCEL ON AN EXAM. $150000 was borrowed at 8% per year. Annual end of

DO NOT USE EXCEL TO SOLVE THE PROBLEM. I CANNOT USE EXCEL ON AN EXAM.

$150000 was borrowed at 8% per year. Annual end of year payments of $14700 will be made. When this loan is paid off, what will be the amount of the last payment? The answer should be 288.10.

Don't need tenture of the loan.

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