Find what is the balance of the loan after the fifth payment

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Reference no: EM133006963

Problem 1: You take out a loan in the amount of $ 266,000 with annual equal repayments over the next 20 years. What is the balance of the loan after the 5th payment? i = 8%.

Problem 2: What is the present value of a 5-year annuity of $ 3,500 with the first payment to be received 3 years from now; i = 8%

Reference no: EM133006963

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