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A loan of 1,000 is to be repaid by annual payments of 100 to commence at the end of the 5th year, and to continue
A loan of 1,000 is to be repaid by annual payments of 100 to commence at the end of the 5th year, and to continue thereafter for as long as necessary. Find the time and amount of the final payment if the final payment is to be larger than the regular payments. Assume i = 4.5%.
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