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A bank makes a loan of $24,000. Level payments are made annually in arrears (that is, at the end of each year) for 20 years.

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A bank makes a loan of $24,000. Level payments are made annually in arrears (that is, at the end of each year) for 20 years. The bank uses an annual effective rate of interest of 8%. Compute the following. Round your answers to two decimal places. Pg =

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