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Andrew borrows a certain amount of money at 7% effective. He repays this loan by making payments of 2000 at the end of each year

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Andrew borrows a certain amount of money at 7% effective. He repays this loan by making payments of 2000 at the end of each year for 15 years, using the amortization method. Calculate the loan amount. Possible Answers 18,173 18,197 18,205 18,211 18,216

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