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A loan of R 9850, granted at 9,6% p.a. compounded monthly, is amortised by means of regular equal monthly payments of R250 and a final
A loan of R 9850, granted at 9,6% p.a. compounded monthly, is amortised by means of regular equal monthly payments of R250 and a final payment
F (F < R 250) made one month after the last equal payment of R 250. If the first payment is made one month after the loan is granted, then the final
payment F, (to the nearest cent)
IS equal to R
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