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Suppose you want to buy a new television from Amazon. The price of the television is $4000. But you do not have any money saved

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Suppose you want to buy a new television from Amazon. The price of the television is $4000. But you do not have any money saved up until now. If you take out a loan at 4% interest, what would be your yearly payment if you want to pay off the loan in 2 years? Hint: LOAN = Fixed Payment (1+1) + Fixed Payment (1+1)

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