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You are considering a loan with an annual interest rate of 10%. The loan amount is $5,000 and is to be repaid in 5 equal

You are considering a loan with an annual interest rate of 10%. The loan amount is $5,000 and is to be repaid in 5 equal installments at the end of each year. What is the amount of each installment, and what is the total amount of interest paid over the life of the loan?

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