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12. Larry is repaying a loan with payments of $1,200 at the end of every two years. If the amount of the interest in installment

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12. Larry is repaying a loan with payments of $1,200 at the end of every two years. If the amount of the interest in installment number 8 is $1168, find the amount of principal in installment number 13. Assume an annual effective interest rate of 10%

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