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A loan is to be repaid by annual payments continuing forever, the first one due one year after the loan is made. Find the amount
A loan is to be repaid by annual payments continuing forever, the first one due one year after the loan is made. Find the amount of the loan if the payments are 1, 2, 3, 4, 1, 2, 3, 4, .... assuming an annual effective interest rate of 11%. [3.d-f #07] O At least 21, but less than 22 At least 24, but less than 25 O At least 23, but less than 24 O At least 20, but less than 21 O At least 22, but less than 23
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