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Kristoffer will repay an 11 year loan which accumulates interest at a nominal annual rate of 1% compounded semiannually through semiannual payments of $126. Find

Kristoffer will repay an 11 year loan which accumulates interest at a nominal annual rate of 1% compounded semiannually through semiannual payments of $126. Find the outstanding balance after 1 year.

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