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A bank has made a five-year $20 million loan that pays annual interest of 12 percent. The principal is due at the end of the

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A bank has made a five-year $20 million loan that pays annual interest of 12 percent. The principal is due at the end of the five years. The bank is willing to sell this loan with recourse at an interest rate of 9.5 percent. What price should it receive for this loan? $16.54 $19.45 $21.92 $21.16 $18.41

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