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Suppose a business takes out a $7,000, five-year loan at 6 percent that will be paid annually with a single, fixed payment each period. How

Suppose a business takes out a $7,000, five-year loan at 6 percent that will be paid annually with a single, fixed payment each period. How much will be the annual payment? Multiple Choice $313.98 O $627.88 $1400.00 $1661.88 Multiple Choice $313.98 $627.88 $1.400.00 $1,66188 $1,854.88

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