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Question 6 Mark A borrower takes out a loan of 4,000 at an annual effective interest rate of 6%. Starting at the end of the

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Question 6 Mark A borrower takes out a loan of 4,000 at an annual effective interest rate of 6%. Starting at the end of the fifth year, the loan is repaid by annual payments, each of which equals 600 except for a final balloon payment that is less than 1,000 Calculate the final balloon payment. A 616 B 639 c 642 o 688 696

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