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There is question and answer, please help me to explain it step by step. Also with the formulas you use. Thanks! A loan for 50,000

There is question and answer, please help me to explain it step by step. Also with the formulas you use. Thanks!

A loan for 50,000 has level payments to be made at the end of each year for 10 years at an annual rate of 9%. Find a) the balance at the end of 3 years and b) the principal and interest paid in the third payment

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