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An investor offers you a $1M loan with an IRR of 3%. The investor, who breaks ever offers you the following repayment plan: one initial

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An investor offers you a $1M loan with an IRR of 3%. The investor, who breaks ever offers you the following repayment plan: one initial payment of $0.5M at the end year 1 and 3 equal annual installments at the end of years 2, 3 and 4. What is th annual repayment in years 2, 3 and 4? (rounded to the nearest 2 decimals) a. $0.19 b. $0.17 C. $0.51 d. None of the above

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