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You borrow $ 10,000 at 14% compound annual interest rate for 4 years. The loan is repayable in 4 equal annual installments payable at the
You borrow $ 10,000 at 14% compound annual interest rate for 4 years. The loan is repayable in 4 equal annual installments payable at the end of ea a) What is the annual payment that will completely amortize the loan over 4 years? b) of each equal payment, what is the amount of interest? The amount of loan principal? (Hint: draw the table)
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