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Q: 3 Sameer took a loan ( $ 1 5 , 0 0 0 ) from a lending bank at 6 % ? yr .

Q:3
Sameer took a loan ($15,000) from a lending bank at 6%? yr. He agreed to pay off the loan in six equal annual payments starting at the end of the first year. After he made the third payment immediately, he agreed with the bank to reschedule the remain loan/ payments to 10 equal annual payments starting at the end of the 5th year at 8%yr.
Determine the values of the first three payments and the values of the last 10 payments.
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