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You have borrowed $30,000 to buy a new home . You plan to make annual payments over a 5-year period . The bank has offered

You have borrowed $30,000 to buy a new home . You plan to make annual payments over a 5-year period . The bank has offered you a 9% Interest rate , campounded annually What will be the outstanding balance( FV of loan ) in year 4 ?

You can show your workings by creating an amortization table .

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