question archive A company has borrowed $A and has agreed to pay interest on the loan every 3-months at j4 = 8% and pay back the $A in one lump sum at the end of 11 years

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A company has borrowed $*A* and has agreed to pay interest on the loan every 3-months at *j*_{4} = 8% and pay back the $*A* in one lump sum at the end of 11 years. The company will make quarterly deposits in a sinking fund earning *j*_{4} = 4% to accumulate to $*A* by the end of 11 years. If the book value of the loan after 5 years is $81,485, what is the value of *A*? (Answer to the nearest $100)

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