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You have a term sheet on a loan which provides 3-year financing of $440,000 at LIBOR plus 300 basis points. LIBOR is currently 1.4% (a

You have a term sheet on a loan which provides 3-year financing of $440,000 at LIBOR plus 300 basis points. LIBOR is currently 1.4% (a cyclical low). The loan adjusts the interest rate quarterly. The loan has no amortization and is pre-payable without penalty.What is the total loan amount owed at the end of year 3?

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