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Question 17) (5 Points) A Bank offers you a $12,000, 6-year term loan at 7 APR, compounding monthly. What is the amount of your annual

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Question 17) (5 Points) A Bank offers you a $12,000, 6-year term loan at 7 APR, compounding monthly. What is the amount of your annual loan payment? Loan Value Years APR Compounded Periods per year Effective Rate (EAR) $12,000.00 6.001 7.00% Annual Payments

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