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A loan of $84,000 is repaid with payments of $10,000 at the end of each year. The annual effective discount rate is 6%. The first

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A loan of $84,000 is repaid with payments of $10,000 at the end of each year. The annual effective discount rate is 6%. The first payment is due 4 years after the loan is taken out. Find the amount of the drop payment. (a) 7674 (b) 7699 (c) 7724 (d) 7748 (e) 7772

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