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Ahmet has a loan with an effective interest rate of 8% per annum. He makes payments at the end of each year for 25 years.

Ahmet has a loan with an effective interest rate of 8% per annum. He makes

payments at the end of each year for 25 years. The first payment is 100, and each

subsequent payment increases by 20 per year. Calculate the original loan amount.

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