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*show excel formulas please A $50,000 loan obtained today is to be repaid in equal annual installments over the next seven years starting at the

*show excel formulas please

A $50,000 loan obtained today is to be repaid in equal annual installments over the next seven years starting at the end of this year. If the annual interest rate is 2 percent, compounded annually, how much is to be paid each year?

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