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5. A client has a loan of GHS500.00 to be repaid in ten weeks, with equal weekly installments of GHS50.00. At the end of the

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5. A client has a loan of GHS500.00 to be repaid in ten weeks, with equal weekly installments of GHS50.00. At the end of the sixth week, the outstanding balance was GHS400.00. Calculate the following and comment on your answers. i. The repayment rate 5 marks The default rate 5 marks iii. PAR 5 marks 15 marks

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