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A $10,000 loan is to be repaid with 7 equal half-yearly instalments, the first repayment being in 6 months from today. Interest is at 7%p.a.

A $10,000 loan is to be repaid with 7 equal half-yearly instalments, the first repayment being in 6 months from today. Interest is at 7%p.a. compounding half-yearly. Calculate the principal repaid in the fourth instalment. ( Use the =PPMT() function in excel)

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