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A loan for 3000 at 5.8 annual effective interest rate has annual end-of-year payments of 330 each, except maybe for a final drop payment. The

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A loan for 3000 at 5.8 annual effective interest rate has annual end-of-year payments of 330 each, except maybe for a final drop payment. The first payment is made one year from the loan date. Find the outstanding balance immediately after the 6th payment. Answer =

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