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28. A loan of $100,000, with interest at 8%, convertible semiannually, is to be repaid in level monthly installments over the next 20 years with

28. A loan of $100,000, with interest at 8%, convertible semiannually, is to be repaid in level monthly installments over the next 20 years with the first payment one month hence. Find the amount of principal repaid in the sixth year. $33,350 $7145

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