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What is your annual payment on this loan

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Question: Suppose you apply for a car loan for $4,000 and plan to pay it off in 5 years. If the annual interest rate (APR) is 10%, what is your annual payment on this loan (using the constant payment method)? Build the amortization table showing the annual payment, interest, and remaining balance at the end of each year.

Reference no: EM133425814

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