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if rate is 4.06, you borrow 20,000, 4 years, how much do you pay annually? and how much would you pay after 4 years?
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Explanation & Answer
200000=100%
? =104.6%
20,000*104.6/100
=20920
amount paid annually=20920/4=5230
amount paid in four years=20920
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100%
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