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7) A student accumulates loans, the debt is $8000. The loan has interest at 8% per annum and is repaid in single installments at the

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7) A student accumulates loans, the debt is $8000. The loan has interest at 8% per annum and is repaid in single installments at the end of each year. How much must the student pay each year to repay the debt in 5 years

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