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Use the following information to answer questions 2 0 - 2 6 An agricultural producer acquires a $ 2 5 , 0 0 0 5
Use the following information to answer questions
An agricultural producer acquires a $year loan through his local community bank. The annual interest rate is and the producer will make equal total annual payments for years one through five with a balloon payment at the end of year five. Enter answers in dollar terms without the $ sign eg
How much will the balloon payment be at the end of year
How much interest will accumulate on the balloon payment annually?
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