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Prepare an amortization schedule for a five-year loan of RM42,000. The interest rate is 8 percent per year, and the loan calls for equal annual

  1. Prepare an amortization schedule for a five-year loan of RM42,000. The interest rate is 8 percent per year, and the loan calls for equal annual payments. How much interest is paid in the third year? How much in total interest is paid over the life of the loan?

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