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12. A debt of $13 an is to be repaid in annual installments of $3000 with the first installment due at the end of the

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12. A debt of $13 an is to be repaid in annual installments of $3000 with the first installment due at the end of the second year and a nal installment at less than $3000. Interest is 9% per year compounded annually. Calculate the nal payment. Solution $94109

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