Suppose you borrow $25,000 today and agree to repay this loan in five equal annual...
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Suppose you borrow $25,000 today and agree to repay this loan in five equal annual installments, the first payment is due in one year. The rate of interest is 6%. What is the required annual payment? Calculate an amortization table for this loan (Note; for all pcalculations, round off to the nearest dollar.)
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