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You have a 30,000 loan at 8% annually for 30 years. You agree to pay off the principal in installments of 1,000 per year, and

You have a 30,000 loan at 8% annually for 30 years. You agree to pay off the principal in installments of 1,000 per year, and to pay interest on the outstanding balance each year. Find (a) the interest due in the 11th payment (b) the actual 11th payment

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