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Problem 5: Sami had a loan of $30,000 from a bank that charges 10% interest compounded annually. He will pay the loan in 10 annual
Problem 5: Sami had a loan of $30,000 from a bank that charges 10% interest compounded annually. He will pay the loan in 10 annual amounts starting from the end of the second year. How much is the amount to be paid every year? Draw cash flow diagram(s)
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