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Josef Company borrowed money that must be repaid in 20 years. The company wants to make sure the loan will be repaid at the end

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Josef Company borrowed money that must be repaid in 20 years. The company wants to make sure the loan will be repaid at the end of year 20 . So it invests $13,400 at the end of each year at 12% interest compounded annually. What was the amount of the original Ioan? (Use Table 13.1.) (Do not round intermediate calculations. Round your answer to the nearest cent.)

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