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This is for Actuarial Financial Mathematics, please no excel. please show all your steps A loan of $10,000 is amortized by equal annual payments for

This is for Actuarial Financial Mathematics, please no excel. please show all your steps

A loan of $10,000 is amortized by equal annual payments for 30 years at an effective annual interest rate of 5% with the first payment one year after the loan started. Determine the year in which the interest portion of the payment becomes less than principal portion of the payment.

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