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Jonathan borrowed $8,000 at 5% annual compound interest. He agreed to repay the loan with 5 equal annual payments at end-of-years 1-5. How much of

Jonathan borrowed $8,000 at 5% annual compound interest. He agreed to repay the loan with 5 equal annual payments at end-of-years 1-5. How much of the annual payment is interest, and how much principal is there in each annual payment?

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