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You are given that a $30,000 loan is being repaid by equal annual amounts of principal for 30 years plus annual interest of 4% on

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You are given that a $30,000 loan is being repaid by equal annual amounts of principal for 30 years plus annual interest of 4% on the outstanding balance Immediately after the loan was made, the loan was sold to an investor Find the price the investor paid to earn an effective annual interest of 5% on this investment

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