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Henderson is establishing a fund to pay off a $200,000 loan when it matures on this date in 12 years via 12 annual payments. The

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Henderson is establishing a fund to pay off a $200,000 loan when it matures on this date in 12 years via 12 annual payments. The funds will earn 7 percent per year. What is the size of yearly payment if the payment will be made at the beginning of the year

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