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Taraz Aina is obligated to make the following payments to a loan company: TimingAmountRight Now$7,500 At the end of one year$15,000 At the end of
Taraz Aina is obligated to make the following payments to a loan company:
TimingAmountRight Now$7,500
At the end of one year$15,000
At the end of two years$22,500
At the end of three years$75,000
The interest rate on the loan is 12% compounded annually, and there is no penalty for early payment. How much must Taraz Aina payright nowin order to completely satisfy her obligation under this loan? Note: The amount she must pay right now includes the $7,500 that is due right now.
$92,213$85,414$96,073$121,494$129,553
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