A loan of 1000 is being repaid with annual installments for 20 years at 5% effective, with
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A loan of 1000 is being repaid with annual installments for 20 years at 5% effective, with the first installment due one year after the loan is taken out. Show that the amount of interest in the 1 V^
installment is 30.98.
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Related Book For 
Theory Of Interest And Life Contingencies With Pension Applications A Problem Solving Approach
ISBN: 978-1566983334
3rd Edition
Authors: Asa Michael M. Parmenter, Ph.d.
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