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What is the amount of interest and principal

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Reference no: EM132682102

You borrow 10,000 at 14% compound interest for 4 years. The loan should be payable in equal 4 installments annually.

a. What is the annual payment that will completely amortize the loan over 4 years

b. Of each equal payment, what is the amount of interest and principal.

Reference no: EM132682102

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