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What is the installment payment amount using the following information: Amount of loan = $10,000 Interest rate of the loan = 12% Payments per year

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What is the installment payment amount using the following information: Amount of loan = $10,000 Interest rate of the loan = 12% Payments per year = 4 Length of loan = 2 years Please round to the nearest dollar. O $1,250 O $1,317 O $1,425 $1,610

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