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OpenStudy (anonymous):
Jones Co. borrowed money that is to be repaid in 12 years. So that the loan will be paid back at end of the 12th year, the company invests $8,000 at end of each year at 5 percent compounded annually. The amount of original loan was: a)$127,336.80 b)$70,905.60 c)$127,636.80 d)$70,950.60 e)None of these .
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