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1. XYZ Corp borrowed money from Credit Corp at 15% for 8 annual payments. The loan calls for annual payments of $868,913.43 starting today. About

1. XYZ Corp borrowed money from Credit Corp at 15% for 8 annual payments. The loan calls for annual payments of $868,913.43 starting today. About what is the amount of the loan? Please show calculator and formula methods.

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