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Semiannual payments of $1240 will pay off the balance owed on a loan in 9 years. If the interest rate on the loan is 5.9%
Semiannual payments of $1240 will pay off the balance owed on a loan in 9 years. If the interest rate on the loan is 5.9% compounded semiannually, what is the current balance on the loan?
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