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can you explain step by step? The present value of a 5-year, 8% loan with annual payments of $4,000 made at the end of each

image text in transcribed can you explain step by step?

The present value of a 5-year, 8% loan with annual payments of $4,000 made at the end of each year is $ (Use the tables in the Appendix to calculate your answer.) Need help? Review these concept resources. EL Read About the Concept

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