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An 11-year loan of L at annual effective interest rate i = 5% to be repaid by the sinking fund method. The sinking fund earns

An 11-year loan of L at annual effective interest rate i = 5% to be repaid by the sinking fund method. The sinking fund earns an annual effective interest rate of 4.7%. Immediately following the seventh payment (7-th) payment and deposit. The outstanding loan balance under sinking fund deposit is 6241 (Original Loan - Accumulation of Sinking Fund Deposit). Calculate the sinking fund Deposit (D).

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