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A loan of 10,000 is made, and two repayment schemes are offered: Payments starting at R, and increasing by R, each year for a total
A loan of 10,000 is made, and two repayment schemes are offered: Payments starting at R, and increasing by R, each year for a total of 10 payments. Payments starting at 10R2 and decreasing by R, each year for a total of 10 payments. The interest rate on the loan is 4% per year. Find the difference in total interest paid by one repayment scheme compared to the other
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