Question: (2 points) (Exercise 5.20) A borrower is repaying a loan with 9 annual payments of $1400. Half of the loan is repaid by the amortization

(2 points) (Exercise 5.20) A borrower is repaying a loan with

(2 points) (Exercise 5.20) A borrower is repaying a loan with 9 annual payments of $1400. Half of the loan is repaid by the amortization method at 4.5% effective. The other half of the loan is repaid by the sinking fund method in which the lender receives 4.5% on the investment and the sinking fund accumulates at 3.5 % effective. Find the amount of the loan. Answer to the nearest dollar

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