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Problem 5-37 Add-on Interest Payments (LG5-8) To borrow $1,200, you are offered an add-on interest loan at 9 percent. Two loan payments are to be

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Problem 5-37 Add-on Interest Payments (LG5-8) To borrow $1,200, you are offered an add-on interest loan at 9 percent. Two loan payments are to be made, one at six months and the other at the end of the year. Compute the two equal payments

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