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The borrower repays a $1400 loan by the sinking fund method for 5 years. The annual effective interest rate is 7%, and the interest rate

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The borrower repays a $1400 loan by the sinking fund method for 5 years. The annual effective interest rate is 7%, and the interest rate of the sinking fund also is 4%. Please calculate the Sinking fund Schedule. T Expenditu Loan balance re Interest Funds Interest Total Debt Net loan deposited from Fund Fund balance 1400.00 0 1 1400 2 1400 3 1400 4 1400 5 1400

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