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You need 20,000 dollars to purchase a used car. Your wealthy uncle is willing to lend you the money as an amortized loan. He would
You need 20,000 dollars to purchase a used car. Your wealthy uncle is willing to lend you the money as an amortized loan. He would like you to make annual payments starting one year from today for 5 years. He requires a 5% annual return. What will be your annual loan payments?
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