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A loan is being repaid in 2N level payments, beginning one period after the loan is made. After the Nth payment is made, the outstanding
| A loan is being repaid in 2N level payments, beginning one period after the loan is made. After the Nth payment is made, the outstanding principal is 0.9 of the original loan amount. What proportion of the next payment is interest? |
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Modeling Monetary Economies
Authors: Bruce Champ, Scott Freeman, Joseph Haslag
4th Edition
1316508671, 1316508676, 9781316723302 , 978-1107145221
