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7. A loan of RM2,000 is to be amortized in 48 months at 12% compounded monthly. Find (a) the monthly payment. (b) the outstanding principal

7. A loan of RM2,000 is to be amortized in 48 months at 12% compounded monthly. Find (a) the monthly payment. (b) the outstanding principal at the beginning of the 36th month

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