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Principal Interest Rate Terms Annual Payment 40,000 7% 19 70,000 16% 8 Determine theequal, annual,end-of-year payment required over the life of the following loans to

Principal Interest Rate Terms Annual Payment

40,000 7% 19

70,000 16% 8

Determine theequal, annual,end-of-year payment required over the life of the following loans to repay them fully during the stated term.

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