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Question 18 (1 point) Congratulations! You just purchased your first business and qualified for a 10-year $50,000 loan. The annual interest rate on your loan

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Question 18 (1 point) Congratulations! You just purchased your first business and qualified for a 10-year $50,000 loan. The annual interest rate on your loan is 7%. The loan requires annual payments and interest is calculated. What will the ending balance on your loan be after making the first payment? O $46,500.00 O $42,881.12 $7,118.88 O $46,381.12

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