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4. (Bonus Question 1pt) A 20 year loan at annual effective interest rate of 4% is repaid with increasing annual payments. The first payment is

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4. (Bonus Question 1pt) A 20 year loan at annual effective interest rate of 4% is repaid with increasing annual payments. The first payment is equal to 1000 and subsequent payments increase by 200 over their previous payments. a) Determine the outstanding principle immediately after the 4th payment. b) Determine the amount of interest paid in the 9th payment

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