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A loan is to repaid with a schedule of: - $200 paid at the end of year 1, - $100 paid at the end of
A loan is to repaid with a schedule of: - $200 paid at the end of year 1, - $100 paid at the end of year 2, - $50 paid at the end of year 3, and - $ paid at the end of year 4. The annual effective interest rate is 6.2%. In the second payment, the amount of interest paid is 25% that of the amount of the principal repaid. Calculate .
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