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[10] A loan of $ 2000 is to be repaid by monthly payments of $ 100. The interest rate is i(12) = 12%. (a) [4]

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[10] A loan of $ 2000 is to be repaid by monthly payments of $ 100. The interest rate is i(12) = 12%. (a) [4] Determine the number of monthly regular payments. (b) [3] Determine the amount of the last payment if it is a balloon payment. (c) [3] Determine the amount the last payment if it is a drop payment

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