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3 ) A borrower planned to repay a loan of L with level payments at the end of each month for 3 0 years. The
A borrower planned to repay a loan of L with level payments at the end of each month for years. The loan had an annual nominal interest rate of convertible monthly. Starting with the st payment, the borrower increased the monthly payment to which enabled the borrower to pay off the loan five years earlier than planned. Calculate L
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