Question: H3. Exercise 2 (10 points} A person borrows 80.000 at the beginning of a year and agrees to repay this amount in 10 annual payments

H3.

Exercise 2 (10 points} A person borrows 80.000 at the beginning of a year and agrees to repay this amount in 10 annual payments of the same amount at the end of each year with an interest rate of 7% and annual compounding. a) Determine the annual payment amount. bl Assume that the loan is to be repaid in monthly payments at the end of each month at a nominal interest rate of 7% compounded monthly. Determine the monthly payment amount

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