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A $12,000 loan is to be repaid with 10 equal half-yearly instalments. Interest is at 8.5%p.a. compounding half-yearly Calculate the principal repaid in the fourth

A $12,000 loan is to be repaid with 10 equal half-yearly instalments. Interest is at 8.5%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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