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You get a loan for $100,000 today and will pay it back with yearly payments of $12,000 each year in years 1 to 7. In
You get a loan for $100,000 today and will pay it back with yearly payments of $12,000 each year in years 1 to 7. In addition, you will make a single dollar payment in year 3. How big must the single payment be, if the loan charges 6.00% APR (compounded annually)? The additional payment is equal to $66,989 O The additional payment is equal to $33,011 The additional payment is equal to $39,317 The additional payment is equal to $39,710 O The additional payment is equal to $38,531
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