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A loan is amortized at j 2 = 12% with semi-annual payments of R. The outstanding balance of the loan after 18 payments is $7049.29

A loan is amortized at j₂= 12% with semi-annual payments of R. The outstanding balance of the loan after 18 payments is $7049.29 and the outstanding balance after 19 payments is $6377.10. What is R?

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