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Loan Balance 11. You take out a 5 year loan for $40,000 from a bank at an annual interest rate of 9% monthly and you

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Loan Balance 11. You take out a 5 year loan for $40,000 from a bank at an annual interest rate of 9% monthly and you make payments monthly. At the end of the second year, you decide to pay the remainder of the loan in a single payment. Compute the amount of the single payment to pay off the loan. [8 points

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