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A loan of $77,000 is repaid by payments of $1,000 at the end of every month. Interest is 6% compounded monthly. (4 total-Ch14) How many

  1. A loan of $77,000 is repaid by payments of $1,000 at the end of every month. Interest is 6% compounded monthly. (4 total-Ch14)
  1. How many payments are required to repay the debt? (2 marks)
  2. What is the size of the final payment? (2 marks)

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