Question: You borrow $ 7 9 , 0 0 0 and promise to pay back $ 4 0 7 , 6 2 3 at the end

You borrow $79,000 and promise to pay back $407,623 at the end of 9 years.
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You borrow $16,000 and promise to make payments of $5,001.00 at the end of each year for 5 years.
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