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A loan taken for one year must be repaid in monthly installments. The loan interest rate is 8 %. The loan is repaid in instalments
A loan taken for one year must be repaid in monthly installments. The loan interest rate is 8 %. The loan is repaid in instalments at the end of the month according to the following scheme: the first instalment is 1,800 PLN and each subsequent instalment is 100 PLN higher. a. Please calculate the loan amount received for this repayment system. b. If the loan calculated in point a) were repaid in equal installments at the beginning of each month (time and interest rate unchanged), what p would the installment be? c. For the first two variable installments (from point a) prepare a repayment schedule with information on the total payment, principal installment and interest installment
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