Question: the compounding frequency on a loan is once every year. If you borrow $1,308,814.19 at an annual interest rate of 6.85%, how much must you

the compounding frequency on a loan is once every year. If you borrow $1,308,814.19 at an annual interest rate of 6.85%, how much must you pay every year so that you pay back the loan in 41 years?

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