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4, A loan is being amortized by means of level monthly payments at an annual nominal rate of 9% compounded monthly. The amount of principal

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4, A loan is being amortized by means of level monthly payments at an annual nominal rate of 9% compounded monthly. The amount of principal repaid in the 12th payment is 1000 and the amount of principal repaid in the th payment is 3700. Calculate t. (a) 176 (b) 187 (c) 195 (d) 204 (e) 212

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