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19. If you borrow $24,000 now at an interest rate of 10% per year and promise to repay the loan with payments of $3,695 per

19. If you borrow $24,000 now at an interest rate of 10% per year and promise to repay the loan with

payments of $3,695 per year starting 1 year from now, the number of payments that you will have to

make is closest to: [5]

a. 7b. 8c. 9d. 11

e. 13

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