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Q2: [3 marks] A loan of $50,000 is to be repaid in 8 equal end-of-year payments at 10% a. After 3 years, how much of

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Q2: [3 marks] A loan of $50,000 is to be repaid in 8 equal end-of-year payments at 10% a. After 3 years, how much of the loan would be paid? b. How much would it cost to buy down the interest to 9%

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