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A loan is being repaid with annual payments of $600 made at the beginning of each year for 16 years. Find the loan amount if

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A loan is being repaid with annual payments of $600 made at the beginning of each year for 16 years. Find the loan amount if the effective annual rate of interest is 6% for the first 4 years and 8% for the last 12 years. Possible Answers A 5,661 B 5,921 c 6,072 D 6,314 E 7,087

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