Question: please show all work 2. A $10,000 loan is amortized over 20 years with annual payments at an annual effective rate of 4%. The annual

please show all work

2. A $10,000 loan is amortized over 20 years with annual payments at an annual effective rate of 4%. The annual payment is $X for the first 10 years and thereafter, increases to $(X+100). Calculate the outstanding loan balance immediately after the 12 th payment is made

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