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Kevin borrowed $23,000 with an interest-only, 4-year loan at 6.75 percent. What is the amount of the loan payment in Year 4 if payments are

Kevin borrowed $23,000 with an interest-only, 4-year loan at 6.75 percent. What is the amount of the loan payment in Year 4 if payments are made annually? $26,187.50 $25,296.88 $24,552,50 $1,552.50 None of these answers are correct

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