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Loan payment Determine the equal, annual, end-of-year payment required each year over the life of the loans shown in the following table to repay them

Loan payment Determine the equal, annual, end-of-year payment required each year over the life of the loans shown in the following table to repay them fully dur- ing the stated term of the loan. Loan Principal Interest rate Term of loan (years) ABCD $12,000 8% 3 60,000 12 10 75,000 10 30 4,000 15 S

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