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A loan is repaid by an annuity-immediate with monthly payment over 5 years at a nominal rate of 6 percent convertible monthly. The first payment

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A loan is repaid by an annuity-immediate with monthly payment over 5 years at a nominal rate of 6 percent convertible monthly. The first payment is K=600 and each subsequent payment is r=2.0% more than the previous payment. What is the amount of interest in the 25th payment? Round your answer to 4 decimal places

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