Question: (1 point) (Exercise 5.20) A borrower is repaying a loan with 11 annual payments of $1300. Half of the loan is repaid by the amortization

(1 point) (Exercise 5.20) A borrower is repaying a loan with

(1 point) (Exercise 5.20) A borrower is repaying a loan with 11 annual payments of $1300. Half of the loan is repaid by the amortization method at 5.3% effective. The other half of the loan is repaid by the sinking fund method in which the lender receives 5.3% on the investment and the sinking fund accumulates at 4.3% effective. Find the amount of the loan. Answer to the nearest dollar. ANSWER =$

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