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A car loan requires payments of $200 per month during years 1 and 2, payments of $400 per month during year 3 and payments of

A car loan requires payments of $200 per month during years 1 and 2, payments of $400 per month during year 3 and payments of $600 per month during year 4. The annual interest rate is 12% and payments begin in one month. What is the present value of this 4-year loan?

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