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fishing design has arranged to borrow 1 2 0 0 0 today at 1 0 % interets. the loan is to be repaid with end

fishing design has arranged to borrow

12000

today at

10 %

interets. the loan is to be repaid with end of year payments of

3000

at the end of years

1

through

4 .

At the end of year

5,

the remainder will be paid. What is the year

5

payment?

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