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Year End-of-year Payment 1 $1420 2 $1320 3 $1240 4 $1160 5 $1080 The payment table above is used to pay the loan (10% interest

Year End-of-year Payment

1 $1420

2 $1320

3 $1240

4 $1160

5 $1080

The payment table above is used to pay the loan (10% interest rate annually). What is the present value of this loan?

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