Question: You have just received a loan from your bank for $19,000 and you will use it to buy a car. The interest rate is 6

You have just received a loan from your bank for $19,000 and you will use it to buy a car. The interest rate is 6 percent and the term of the loan is 6 years. You will make 6 equal annual payments over the six years beginning one year from the day you signed the loan. How much is your annual year-end payment?

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