Question: ( 1 0 points ) A loan in the amount of 4 8 0 , 0 0 0 is repaid with 2 0 end of

(10 points) A loan in the amount of 480,000 is repaid with 20 end of year payments containing equal principal. The annual effective interest rate is 5% for the first 10 years and i thereafter. The 11 th payment is 8400. Find the outstanding loan balance just after the 15 th payment has been made.
(10 points) A loan in the amount of 480,000 is repaid

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