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A debt of $18,000 is to be repaid in annual installments of $1,000, with the first installment due at the end of the second year

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A debt of $18,000 is to be repaid in annual installments of $1,000, with the first installment due at the end of the second year and a final installment of less than $1,000. Interest is 4% per year compounded annually. Which of the following is closest to the amount of the final payment? Possible Answers A $100 B $200 $300 D $400 E $500

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