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Al plans to loan his friend $10000 to open a restaurant. Al will collect the loan in 7 years with an interest rate of 7% compounded annually. How much will Al receive at the end of the loan term?

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Al plans to loan his friend $10000 to open a restaurant. Al will collect the loan in 7 years with an interest rate of 7% compounded annually. How much will Al receive at the end of the loan term?






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