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1-14 Determining a Loan Payment Amount [LO1-4] If you borrow $9,000 with an interest rate of 5 percent, to be repaid in five equal yearly

1-14 Determining a Loan Payment Amount [LO1-4] If you borrow $9,000 with an interest rate of 5 percent, to be repaid in five equal yearly payments at the end of the next five years, what would be the amount of each payment? Use Exhibit 1-D (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Amount of each payment

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