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Peter Lynch borrowed 24 000 USD at a 9% annual rate of interest to be repaid over 3 years. The loan is amortized into three

Peter Lynch borrowed 24 000 USD at a 9% annual rate of interest to be repaid over 3 years. The loan is amortized into three equal, annual, end-of-year payments. Calculate the annual, end-of-year loan payment.

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