What is the amount of the loan

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Reference no: EM13890485

C Corp borrowed money from XYZ Bank at 11.53% interest for nine years. The loan calls for annual payments of $9,846.38 beginning today. What is the amount of the loan?

a. $ 88,617.42

b. $ 59,573.43

c. $ 53, 414.71

d. $ 47,192.79

Reference no: EM13890485

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