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You have a loan outstanding. It requires making seven annual payments of $8000 each at the end of the next seven years. Your bank has

You have a loan outstanding. It requires making seven annual payments of $8000 each at the end of the next seven years. Your bank has offered to allow you to skip making the next six payments in lieu of making one large payment at the end of the loan's term in seven years. If the interest rate on the loan is 10% , what final payment will the bank require you to make so that it is indifferent to the two forms of payment? Question content area bottom Part 1 The final payment the bank will require you to make is $ enter your response here. (Round to the nearest dollar.)

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