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Rania takes out a loan for $50,000 which she will repay with 10 annual payments of $K (at the end of each year for the

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Rania takes out a loan for $50,000 which she will repay with 10 annual payments of $K (at the end of each year for the next 10 years). a) Using the Prospective Formula for the outstanding balance n OB, = -1 kt+1 (where v is the annual discount factor 1/(1+i)), together with the formula OB = OB-1 - PR prove (for all t, 1 st<>

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