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Suppose you borrowed $38,000 at a rate of 9.0% and must repay it in 4 equal installments at the end of each of the next

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Suppose you borrowed $38,000 at a rate of 9.0% and must repay it in 4 equal installments at the end of each of the next 4 years. How large would your payments be? Select the correct answer. a. $11,734.61 b. $11,745.01 c. $11,729.41 d. $11,739.81 e. $11,719.01

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