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Fishing Designs has arranged to borrow $ 1 9 , 0 0 0 today at 1 3 % interest. The loan is to be repaid

Fishing Designs has arranged to borrow $19,000 today at 13% interest. The loan is to be repaid with end-of-year payments of $3,000
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? $
Round entry to the nearest dollar. Tolerance is +-4.
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