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Problem 4.LO4.12 Determine the equal, annual, end-of-year payment required over the life of the following loans to repay them fully during the stated term. Annual

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Problem 4.LO4.12 Determine the equal, annual, end-of-year payment required over the life of the following loans to repay them fully during the stated term. Annual Payment ($) Loan B Interest Principal ($) Rate (%) 40,000 5 50,000 17 Term of Loan (Yrs) 17 6 Loan Interest Principal ($) Rate (%) 40,000 5 Term of Loan (Yrs) 17 Annual Payment (5) (Round to the nearest cent.)

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