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If you borrow $40,000 at an annual interest rate of 11% for seven years, what is the annual payment (prior to maturity) on a discount

If you borrow $40,000 at an annual interest rate of 11% for seven years, what is the annual payment (prior to maturity) on a discount loan?

$6,000.00

$0.00

$8,333.33

$12,161.29

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