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(1 point) (Exercise 5.2) A loan of $18000 is being repaid by instaliments of $3000 at the end of each year, and a smaller final
(1 point) (Exercise 5.2) A loan of $18000 is being repaid by instaliments of $3000 at the end of each year, and a smaller final payment made one year after the last regular payment. Interest is at the effective rate of 10.9%. Find the amount of outstanding loan balance remaining when the borrower has made payments equal to the amount of the loan. ANSWER =$
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