Question: 2: Problem 9 Previous Problem List Next (1 point) Gonzo borrows 20800 dollars from Kermit at an effective rate of 9.5 percent, and agrees to

2: Problem 9 Previous Problem List Next (1 point) Gonzo borrows

2: Problem 9 Previous Problem List Next (1 point) Gonzo borrows 20800 dollars from Kermit at an effective rate of 9.5 percent, and agrees to make 19 equal annual payments (the first a year from now) to repay the loan. Immediately after Gonzo makes the 4th payment, Kermit sells the loan to Fozzie. If Kermit's total yield rate (on both the original loan and the sale to Fozzie) is 2.6 percent effective, how much did Fozzie pay for the loan? Answer = dollars. Preview My Answers Submit Answers You have attempted this problem 0 times. You have 5 attempts remaining. Email instructor

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