Question: Determine the equal, annual, end-of-year payment required each year over the life of the loans shown in the following table to repay them fully during

Determine the equal, annual, end-of-year payment required each year over the life of the loans shown in the following table to repay them fully during the stated term of theloan.

Loan Principal $12,000 60,000 75.000 4,000 Interest rate Term of loan (years) 8% 12 10 15 10 30

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