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A 20-year loan of L is repaid by the amortization method with payments of $1000 at the end of each year. The annual effective interest

A 20-year loan of L is repaid by the amortization method with payments of $1000 at the end of each year. The annual effective interest rate is i. The total amount of interest repaid during the life of the loan is also equal to L .Calculate the amount of interest paid during the first yeas of the loan.

Answer = $_

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