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A loan is negotiated with the lender agreeing to accept payments of $1000 after 10 years, $2000 after 20 years, and $3000 after 30 years.

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A loan is negotiated with the lender agreeing to accept payments of $1000 after 10 years, $2000 after 20 years, and $3000 after 30 years. The borrower wishes to liquidate the loan with a single payment of $6000. If the effective interest rate is 4.5% when should this payment occur

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