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Question 4 (10 points) Assume that you borrow $9,300 for five years at an interest rate of 6.6% per year. If the loan has annual

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Question 4 (10 points) Assume that you borrow $9,300 for five years at an interest rate of 6.6% per year. If the loan has annual payments, what is the amount of principal in the first payment? A) $1,389.48 B) $1,630.14 C) $1,882.38 D) $1,497.78 E) $1,587.14

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