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Business, 06.06.2020 21:05 bneilesauger

You have a loan outstanding. It requires making ninenine annual payments of $ 8 comma 000$8,000 each at the end of the next ninenine years. Your bank has offered to restructure the loan so that instead of making the ninenine payments as originally agreed, you will make only one final payment in ninenine years. If the interest rate on the loan is 2 %2%, what final payment will the bank require you to make so that it is indifferent to the two forms of payment?

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