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A loan is being amortized by means of level monthly payments (end of month) at an annual nominal rate of 9% compounded monthly. The amount

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A loan is being amortized by means of level monthly payments (end of month) at an annual nominal rate of 9% compounded monthly. The amount of principal repaid in the 12th payment is 1000 and the amount of principal repaid in the th payment is 3700. Calculate t

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