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A loan of $ 1 0 , 0 0 0 is being repaid with 2 0 non - level annual payments. The interest rate on
A loan of $ is being repaid with nonlevel annual payments. The interest rate on the loan is an annual effective rate of The loan was originated years ago. Payments of $ at the end of the first year, $ at the end of the second year, and $ at the end of the third year have been paid. Calculate the outstanding balance immediately after the third payment.
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