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Posted on Jul 16, 2024

You borrow $10.807 and repay the loan with 5equal annual payments. The first payment occurs at the end of year 1 and you pay 11

You borrow $10.807 and repay the loan with 5equal annual payments. The first payment occurs at the end of year 1 and you pay 11 annual compound interest if you decide to pay off the an after years. What is the payoff amount due at the end of the 4th year round your answer to 2 decimal places

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