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Jackson has a loan that requires a $17,300 lump sum payment at the end of four years. The interest rate on the loan is 5%,

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Jackson has a loan that requires a $17,300 lump sum payment at the end of four years. The interest rate on the loan is 5%, compounded annually. How much did Jackson borrow today? (PV of $1, FV of $1, PVA of $1, and FVA of $1 ) (Use appropriate factor(s) from the tables provided.) Multiple Choice $11,707 $16,435 $13,840 $15,613 $14,233

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