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Suppose you plan to borrow $60,000 at a 5.5% annual interest rate. You need to amortize the loan with 5 equal end-of-year payments. (1) How

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Suppose you plan to borrow $60,000 at a 5.5% annual interest rate. You need to amortize the loan with 5 equal end-of-year payments. (1) How much payment would you pay in every year? (5 marks) (2) How much interest would you pay in Year 3? (5 marks) (3) How the portion of interest you would pay in different years? How about the portion of principal payment

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