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Question 2 5 Points Suppose you get $20,000 at the beginning of year 1, to paid off with three equal payments, each made at
Question 2 5 Points Suppose you get $20,000 at the beginning of year 1, to paid off with three equal payments, each made at the end of each of the years 1, 2 and 3. The interest rate charged by the bank is 8% compounded annually. Calculate the loan payment and the balance of the loan after the first payment. Explain what you work! Use the editor to format your answer Additional Refresh the you submit a
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