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Jad repays a loan of $7200 by making equal annual amounts of principal at the end of each year for 16 years plus interest on
Jad repays a loan of $7200 by making equal annual amounts of principal at the end of each year for 16 years plus interest on the outstanding balance at an annual effective interest rate of 4%. 1) The equal annual amount of principal is 27 2) The amount of interest paid at time 7 is equal to 15.35 3) The total payment amount at time 7 is equal to
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