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(15 pts) A $10,000 loan is to be repaid by means of level annual payments over a 10-year period. The first payment is one year
(15 pts) A $10,000 loan is to be repaid by means of level annual payments over a 10-year period. The first payment is one year from now. The annual nominal interest rate for the first 5 years is 6%, compounded semiannually. The annual effective discount rate for the last 5 years is 5%. What is the level annual payment amount
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