A $5000 loan with annual effective interest at 4% is scheduled to be repaid in...
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A $5000 loan with annual effective interest at 4% is scheduled to be repaid in 20 equal annual installments, the first payment after one year. At the end of year 2, the borrower makes an additional payment of $250 plus the level annual payment. Level annual installments in the original amount are continued until a final partial payment will liquidate the loan. Find the amount of the final payment.
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