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a. If you borrow $2,900 and agree to repay the loan in six equal annual payments at an interest rate of 11%, what will your

a.If you borrow $2,900 and agree to repay the loan in six equal annual payments at an interest rate of 11%, what will your payment be?

b.What will your payment be if you make the first payment on the loan immediately instead of at the end of the first year?

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