Question: Paul got a $ 3 0 0 0 0 0 business loan that is to be paid off in 8 equal annual payments. At an

Paul got a $300000 business loan that is to be paid off in 8 equal annual payments. At an interest rate of5% per year, the annual payments are $46417 and the balance on the loan immediately after making the 3 rd year payment is $200959. Answer the following two questions.

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