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1. A man borrows R10 000 with interest at 3.5% p.a. the debt is to be retired by the payment of R2 500 at the

1. A man borrows R10 000 with interest at 3.5% p.a. the debt is to be retired by the payment of R2 500 at the end of 4 years followed by 6 equal annual payments. What part of the last periodic payment is used to reduce the debt?

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