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You borrow $31,000 to buy a boat. The loan is to be paid off in monthly installments over one year at 21% interest annually. The

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You borrow $31,000 to buy a boat. The loan is to be paid off in monthly installments over one year at 21% interest annually. The first payment is payment? (FV of $1. PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1 (Use appropriate factor(s) from the tables provided.) Multiple Choice None of these answer choices are correct. 0 $2,583 0 0 $2.431 $2.897 0

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