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Suppose you take a 3-year loan of $70,000. The annual interest rate is 9 percent, and you have to pay equal annual installment payments that

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Suppose you take a 3-year loan of $70,000. The annual interest rate is 9 percent, and you have to pay equal annual installment payments that will pay both principal and nterest. The annual installment payment is $27.653.83. How much is the principal payment in year 3 ? (Hint: after you complete the amortiration table, look of the column for principol poyment and the row for year 3). 25,370.49282704221.350402037141

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