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Michelle takes out a loan for 50,000 and she agrees to pay the lender interest each year at an annual interest rate of 9%. She

Michelle takes out a loan for 50,000 and she agrees to pay the lender interest each year at an annual interest rate of 9%. She puts deposits in a sinking fund which earns 9% annually to pay off the loan at the end of 10 years. The amount of Michelle's total payment for the entire loan period is

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