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Lanagara Woodcraft borrowed money to purchase equipment. The loan is repaid by making payments of $930.61 at the end of every year over three years.

Lanagara Woodcraft borrowed money to purchase equipment. The loan is repaid by making payments of $930.61 at the end of every year over three years. If interest is 7.3% compounded semi-annually, what was the original loan balance?

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