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You wish to borrow $3,000 to be repaid by equal annual payments of blended principal and interest with payments to be made at the end

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You wish to borrow $3,000 to be repaid by equal annual payments of blended principal and interest with payments to be made at the end of each of the next 7 years. If the interest rate is 7%, what is the payment amount? Select one: $537 $557 $605 $431 None of the presented responses is correct

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