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You have a loan outstanding. It requires making seven annual payments of $ 1 comma 000...

You have a loan outstanding. It requires making seven annual payments of $ 1 comma 000 each at the end of the next seven years. Your bank has offered to restructure the loan so that instead of making the seven payments as originally​ agreed, you will make only one final payment in seven 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?

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