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4) You pay off a 50 year, $50,000 loan at i=3% by paying constant principle of $1,000 at the end of each year. Immediately after
4) You pay off a 50 year, $50,000 loan at i=3% by paying constant principle of $1,000 at the end of each year. Immediately after each payment, the loan company reinvests the payment into an account earning i=4%. What is the accumulated value of these payments at the end of the 50 years
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