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An investor plans to borrow $20,000. The loan will be repaid in 5 annual payments. The...

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Finance

An investor plans to borrow $20,000. The loan will be repaid in5 annual payments. The interest rate charged is 7%. Find the loanpayment and amortize the loan

Use formulas and show step by step with calculations.

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An investor plans to borrow $20,000. The loan will be repaid in5 annual payments. The interest rate charged is 7%. Find the loanpayment and amortize the loanUse formulas and show step by step with calculations.

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