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(2 points) Alden has a loan at an effective annual interest rate of 5% He makes payments at the end of each year for 12
(2 points) Alden has a loan at an effective annual interest rate of 5% He makes payments at the end of each year for 12 years. The first payment is 200, and each subsequent payment increases by 5 per year. The outstanding balance at the end of year 6 is The interest portion in the 7 th payment is
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