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Question 4 (1 point) A person borrows $100,000 at a simple interest rate r= 24%. He is to repay the loan with 2 payments, one

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Question 4 (1 point) A person borrows $100,000 at a simple interest rate r= 24%. He is to repay the loan with 2 payments, one at the end of 2 months and the other at the end of 6 months. The first payment is the same as the 2nd payment. Determine the size of the payments, using the end of 6 months as the focal date. $46,296,30 $53,925.93 $48,076.92 $53,846.15

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