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A borrower had a loan of $20,000.00 at 5% compounded annually with 10annual payments. Suppose the borrower paid off the loan after 5 years. Calculate

A borrower had a loan of $20,000.00 at 5% compounded annually with 10annual payments. Suppose the borrower paid off the loan after 5 years. Calculate the amount needed to pay off the loan.

The amount needed to pay off this loan after 5 years is: (Round to the nearest cent as needed.)

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