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A loan is repaid with payments which start at $400400 the first year and increase by $6060 per year until a payment of $13601360 is
A loan is repaid with payments which start at $400400 the first year and increase by $6060 per year until a payment of $13601360 is made, at which time payments cease. If interest is 66% effective, find the amount of principal in the 55th payment. (No excel please)
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