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You plan to borrow $75,000 at a 6% annual interest rate. The terms require you to amortize the loan with monthly equal end-of-year payments over

You plan to borrow $75,000 at a 6% annual interest rate. The terms require you to amortize the loan with monthly equal end-of-year payments over 5 years. What is the monthly payment and how much interest you will pay during year 1? use a financial calculator to solve this and explain how to do it

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