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If you borrow $8,000 for five years at an interest rate of 6.5% per year, what is the annual loan payment? 1) $1,904.28 2) $1,897.13

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If you borrow $8,000 for five years at an interest rate of 6.5% per year, what is the annual loan payment? 1) $1,904.28 2) $1,897.13 3) $1,817.45 4) $1,763.82 5) $1,925.08

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