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If you borrow $11,000 with an interest rate of 3 percent, to be repaid in five equal yearly payments at the end of the next

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If you borrow $11,000 with an interest rate of 3 percent, to be repaid in five equal yearly payments at the end of the next five years. what would be the amount of each payment? Use Exhibit 1.D. (Round time value foctor to 3 decimal places and final answer to 2 decimal places.) Amount of each payment

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