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Suppose a firm want s to purchase a piece of machine ry. To do this it borrows 150,000 to be repaid in 3 equals payments

Suppose a firm wants to purchase a piece of machinery. To do this it borrows 150,000 to be repaid in 3 equals payments at the end of each year. The interest rate that is paid to the lender is 15% on the outstanding portion of the loan. Calculate the loan balance after the payment of each annuity by using the loan amortization schedule. (4Points)

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