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Problem 4 (20 points): A $20,000 loan is to be repaid with annual payments at the end of each year for 12 years. If the

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Problem 4 (20 points): A $20,000 loan is to be repaid with annual payments at the end of each year for 12 years. If the annual interest is 19% approximate the outstanding loan balance immediately after the fourth payment? Calculate the outstanding balance for the loan balance immediately after the second payment more precisely by an amortization schedule

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