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3. [10] A loan is to be repaid with 10 payments. The principal repaid in the 6th and 7th payments is $ 189.25 and $

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3. [10] A loan is to be repaid with 10 payments. The principal repaid in the 6th and 7th payments is $ 189.25 and $ 192.00 respectively. (This is a general amortization schedule.) (a) [5] Determine the period interest rate. (b) [5] What is the present value of the loan

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