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Malabar has borrowed money and the arrangement with the money lender is to pay her $123 each month for the next 7 years. You also

Malabar has borrowed money and the arrangement with the money lender is to pay her $123 each month for the next 7 years. You also know that you are goiing to make a balloon payment of $10,000 at the end of 7 years. If the annual interest rate is 9% how much have you borrowed?

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Mathematical Applications for the Management Life and Social Sciences

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