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Danny Joe borrows $24,000 from the bank at 6 percent annually compounded interest to be repaid...

Danny Joe borrows $24,000 from the bank at 6 percent annually compounded interest to be repaid in four equal annual installments.

For one of the above loans, make an amortization table for the entire period, which has the following columns:

Year Beg. Bal. Payment Interest Part Principal Part

End. Bal.

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