Question: (1 point) (Exercise 5.4) A $40000 loan is to be repaid with annual payments at the end of each year for 24 years. If (1

(1 point) (Exercise 5.4) A $40000 loan is to be repaid

(1 point) (Exercise 5.4) A $40000 loan is to be repaid with annual payments at the end of each year for 24 years. If (1 + i)4 = 2, find the outstanding balance immediately after the fourth payment. ANSWER = $

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