A man has borrowed $ 120,000 at 13% compounded annually to be repaid in equal annual payments over 20 years. After the fifth payment, he is offered a new proposal to pay off the loan by borrowing the remaining balance with new terms. The new loan at 9% compounded annually with annual payments of 10,000 for the first six years followed by payments of $ 20,000 per year until the final year. How many $ 20,000 payments must be paid

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