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7) A $14,000 loan is to be repaid with 8 equal half-yearly instalments. Interest is at 7.2%p.a. compounding half-yearly Calculate the principal repaid in the

A $14,000 loan is to be repaid with 8 equal half-yearly instalments. Interest is at 7.2%p.a. compounding half-yearly Calculate the principal repaid in the fourth instalment. (use excel; answer to include cents but do not use the comma separator)

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