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Mr Fritz took a loan for $10,000, 000 form Nedbank Namibia at an interest rate of 7 percent per year. The bank wants him to

  1. Mr Fritz took a loan for $10,000, 000 form Nedbank Namibia at an interest rate of 7 percent per year. The bank wants him to make a series of payments that will pay off the loan and the interest over six years.

Prepare the loan payment schedule for Mr Fritz. (10 marks)

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