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A loan to be repaid with annual payments of 500 ay the end of each year for 2n years. The annual effective rate is 4.9%.
A loan to be repaid with annual payments of 500 ay the end of each year for 2n years. The annual effective rate is 4.9%. The sum of the interest paid in year 1 plus the interest paid in yearn n+1 is equal to 720. Calculate the amount of interest paid in year 10. A loan to be repaid with annual payments of 500 ay the end of each year for 2n years. The annual effective rate is 4.9%. The sum of the interest paid in year 1 plus the interest paid in yearn n+1 is equal to 720. Calculate the amount of interest paid in year 10
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