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Consider a $1,500,000 fixed-rate loan at 11% interest for 25 years. What is the loan balance at the end of the first year of the

Consider a $1,500,000 fixed-rate loan at 11% interest for 25 years. What is the loan balance at the end of the first year of the loan? O $1,000,000.00 O $1,487.985.86 O $1,287,985.86 O $1.187.985.86

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