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Harper decides to take out a two-year loan for $12,500 to purchase a new car. His loan officer tells him that he will make equal,

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Harper decides to take out a two-year loan for $12,500 to purchase a new car. His loan officer tells him that he will make equal, annual payments for the loan at an interest rate of 7.5 percent per year. Round each number in this problem to 2 decimal places. How much is Harper's annual payment

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