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If you borrow $20,000 at 7.0% interest to be repaid with a fully amortized loan plan over 7 years (equal endofyear payments), (a.) What is

If you borrow $20,000 at 7.0% interest to be repaid with a fully amortized loan plan over 7 years (equal endofyear payments), (a.) What is the annual payment? (b.) What is the total payment of principal and interest that you make over the 7 years (simply add it up)?

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