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A loan of $P is taken out today at j12, to be repaid over n-months with monthly payments. You are given the following information: the

A loan of $P is taken out today at j12, to be repaid over n-months with monthly payments. You are given the following information: the principal repaid in the 32nd payment is $343.79, the principal repaid in the 41st payment is $376.00 and the outstanding balance after n 1 monthly payments have been made is $576.77. What is the value of P? (4 marks)

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