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Miller borrows $390,000 to be paid off in two years. The loan payments are semiannual with the first payment due in six months, and interest

Miller borrows $390,000 to be paid off in two years. The loan payments are semiannual with the first payment due in six months, and interest is at 10%. What is the amount of each payment?

  • $109,985

  • $78,000

  • $67,686

  • $127,314

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