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X owed a debt dated January 1,2020,amounting to $91,330.Arrangements were made to pay the debt in three equal annual instalments,starting on December 31,2020.The interest is 15% per annum.
(a)Compute the amount of the annual cash payment to be made on each December 31.
Payment $______________.
(b)Prepare the related debt amortization schedule for the term of the debt.
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