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Say you borrow $50,000 and agree to make equal annual end-of-year payments over 10 years. 5a) (10 points): What is the annual payment to repay

Say you borrow $50,000 and agree to make equal annual end-of-year payments over 10 years.

5a) (10 points): What is the annual payment to repay this loan if the annual interest rate is 8 percent?

5b) (10 points): What is the annual payment to repay this loan if the annual interest rate is 12 percent?

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