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You borrow $14,612 and repay the loan with 5 equal annual payments. The rst payment occurs at the end of year 1 and you pay

You borrow $14,612 and repay the loan with 5 equal annual payments. The rst payment occurs at the end of year 1 and you pay 12% annual compound interest. If you decide to pay o the loan after 4 years. What is the payo amount due at the end of the 4th year?

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