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An engineer borrowed $ from the bank, payable in six equal endofyear payments at The bank agreed to reduce the interest on the loan if interest rates declined before the loan was fully repaid. After the third payment, the bank agreed to reduce the interest rate on the remaining debt to What was the amount of the equal annual endofyear payments for each of the first years? What was the amount of the equal annual endofvear payments for each of the last years?
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