What final payment will the bank require

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You have a loan outstanding. It requires making four annual payments of $ 8,000 each at the end of the next four years. Your bank has offered to restructure the loan so that instead of making the four payments as originally? agreed, you will make only one final payment in four years. If the interest rate on the loan is 10%?, what final payment will the bank require you to make so that it is indifferent to the two forms of? payment? The final payment the bank will require you to make is ?(Round to the nearest? dollar.) Can you please show how to work out problem and how to do on financial calculator.

Reference no: EM131973204

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