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The loan is due at the end of 2 years(balloon loan). It has balance of $5,000 and an interest rate of 10% that accrues semi-annually.

The loan is due at the end of 2 years(balloon loan). It has balance of $5,000 and an interest rate of 10% that accrues semi-annually. The bank said they will take the present value of the loan. Do you have enough money to pay off the loan?

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