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(1 point) (Exercise 5.20) A borrower is repaying a loan with 9 annual payments of $ 1200. Half of the loan is repaid by the

image text in transcribed (1 point) (Exercise 5.20) A borrower is repaying a loan with 9 annual payments of $ 1200. Half of the loan is repaid by the amortization method at 5.6% effective. The other half of the loan is repaid by the sinking fund method in which the lender receives 5.6% on the investment and the sinking fund accumulates at 4.6% effective. Find the amount of the loan. Answer to the nearest dollar. ANSWER =$

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