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Suppose you take out a $5,000 loan at the Bank of SUNY, to be paid off, with annual compounding, in two years. The interest rate

Suppose you take out a $5,000 loan at the Bank of SUNY, to be paid off, with annual compounding, in two years. The interest rate on that loan is 8% per year. The loan installment must be A. $400. B. $500. C. $2803. D. $2403. E. $5000.

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