Question: please solve it A $3,000 loan will be repaid by annual level payments of $400 at the end of each year. The effective interest rate

please solve it please solve it A $3,000 loan will be repaid by annual level

A $3,000 loan will be repaid by annual level payments of $400 at the end of each year. The effective interest rate is 6%. Determine the number of payment if you use the balloon payment method. 11 10 12 8

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