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4 . A loan of amount L is to be repaid at an effective annual interest rate of 8 % with payments at the end

4. A loan of amount L is to be repaid at an effective annual interest rate of 8% with payments at the end of each year, starting one year after the loan. It can be repaid under the following three options :
(i)20 equal annual payments of K each.
(ii) Installments of Y each year for 20 years plus interest on the unpaid balance.
(iii) Annual payments of (K +200) each plus a final smaller payment of Z one year after the last regular payment (where K is the same as in (i)).
If the total amount of interest of 16800 is paid on the loan under option (ii), calculate K and for option (iii) find the total number of payments and the amount Z

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