Ivanhoe Productions borrowed some money from the California Finance Company at a rate of 14.90...
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Ivanhoe Productions borrowed some money from the California Finance Company at a rate of 14.90 percent for a seven-year period. The loan calls for a payment of $1,343,000 each year beginning today. How much did Ivanhoe borrow? (Round factor values to 4 decimal places, e.g. 1.5214 and final answer to nearest whole dollar, e.g. 5,275.) Ivanhoe borrowed 1
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