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The payment necessary to amoritize a 4.3% loan of $77,000 company annually with 5 annual payments is $17,442.32 the total of the payments is $87,211.60
The payment necessary to amoritize a 4.3% loan of $77,000 company annually with 5 annual payments is $17,442.32 the total of the payments is $87,211.60 with a total interest payment of $10,211.60. the borrower made larger payments of $18,000.
A). calculate the time needed to pay off the loan
B). calculate the total amount of the payments
C). calculate the amount of interest saved
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