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It is desired to repay a loan of $150,000 in 12 equal annual installments, where the loan earns interest at the rate of 7% per

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It is desired to repay a loan of $150,000 in 12 equal annual installments, where the loan earns interest at the rate of 7% per year. 1. The annuity factor is Give your answer to 4 decimal places. 2. The annual payment is Give your answer for the annual payment to the nearest whole dollar. No $ sign

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