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show work by hand not excel 7. (16 pts) An amortized loan made at an effective interest rate of 6.6% is to be repaid over

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7. (16 pts) An amortized loan made at an effective interest rate of 6.6% is to be repaid over a period of fifteen years by annual end-of-year payments of $1,800. What proportion of the loan's total interest is paid in the first five years

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