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A loan is being amortized by equal quarterly payments at an annual eective interest rate of 10%. The amount of principal repaid in the 10th

A loan is being amortized by equal quarterly payments at an annual eective interest rate of 10%. The amount of principal repaid in the 10th payment is 400 and the amount of principal repaid in the Mth payment is 2691. Calculate M. (A) 87 (B) 88 (C) 89 (D) 90 (E) 91

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