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A 1000 loan is repaid with equal payments at the end of each year for 20 years. The principal portion of the 13th payment is

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A 1000 loan is repaid with equal payments at the end of each year for 20 years. The principal portion of the 13th payment is 1.5 times the principal portion of the 5th payment. Calculate the total amount of interest paid on the loan. 8. (a) 632 (b) 642 (c) 652 (d) 662 (e)62

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