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A 25-year loan is being repaid with annual payments of 1,300 at an annual effective rate...

A 25-year loan is being repaid with annual payments of 1,300 at an annual effective rate of interest of 7%. The borrower pays an additional 2,600 at the time of the 5th payment and wants to repay the remaining balance over 15 years.

Calculate the revised annual payment.

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