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Loan paymentDetermine the equal, annual, end-of-year payment required each year over the life of the loan shown in the following table to repay it fully

Loan paymentDetermine the equal, annual, end-of-year payment required each year over the life of the loan shown in the following table to repay it fully during the stated term of the loan.

Principal

Interest rate

Term of loan (years)

$10,000

13%

7

Please post excel formula along with the work

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