A bank customer borrows

X at an effective annual rate of 12.5% and

makes level payments at the end of each year for

n years.

(i) The interest portion of the final payment is 153.86.

(ii) The total principal repaid during (

n ? 1) payments (without the last one) is

6,009.12 (iii) The principal repaid in the first payment is

Y . Calculate Y .