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A borrower had a loan of $40,000 at 4% compounded annually , with 7 annual payments. Suppose the borrower paid off the loan after 4

A borrower had a loan of $40,000 at 4% compounded annually , with 7 annual payments. Suppose the borrower paid off the loan after 4 years. calculate the amount needed to pay off the loan.

the amount needed to pay off this loan after 4 years is $____.

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