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One year ago, you took out a 10-year, $50,000, interest-only loan. The APR on the loan is 8% and payments are to be made at

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One year ago, you took out a 10-year, $50,000, interest-only loan. The APR on the loan is 8% and payments are to be made at the end of each year. What is the amount of the payment that is due today? Select one: a. $ 4,500 b. $ 4,000 c. $ 7,791 d. $54,000 e. $ 7,451 X

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