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Pursell Bank offers you a five - year loan for $ 5 3 , 0 0 0 at an annual interest rate of 7 .

Pursell Bank offers you a five-year loan for $53,000 at an annual interest rate of 7.75 percent. What will your annual loan payment be?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)
Annual loan payment
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