Question: Christina just borrowed $ 6 , 0 0 0 . 0 0 . She plans to repay this loan by making a special payment of

Christina just borrowed $6,000.00. She plans to repay this loan by making a special payment of $1,400.00 in 5 years and by making regular annual payments of $1,210.56 per year until the loan is paid off. If the interest rate on the loan is 8.20 percent per year and she makes her first regular annual payment of $1,210.56 in 1 year, then how many regular annual payments of $1,210.56 must Christina make? $4.74 payments $5.32 payments $4.83 payments $4.31 payments the answer cannot be obtained with the given information

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