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A loan at a nominal annual interest rate compounded monthly i (12) = 12% is repaid with 120 monthly payments starting one month after the

A loan at a nominal annual interest rate compounded monthly i (12) = 12% is repaid with 120 monthly payments starting one month after the loan. The amount of the first payment is 600 and each subsequent payment is 5 larger than the previous payment. Find the interest paid in the first payment and the principal repaid in the first payment.

Do not use excel please

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