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18 months ago Bob got 2300$ loan from a Bank. Bob started paying off the loan after 4 months, through constant deliveries, every two months,
18 months ago Bob got 2300$ loan from a Bank. Bob started paying off the loan after 4 months, through constant deliveries, every two months, until today, in which he made the last payment and paid off the debt to the bank. Calculate the amount paid for each payment, knowing that Bank gave the loan based on the compound interest system, capitalized monthly and annual effective rate of 5, 7%.
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