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Can someone help me with this using equations? A ten-year loan with an effective annual interest rate of 5% is to be repaid with the
Can someone help me with this using equations?
A ten-year loan with an effective annual interest rate of 5% is to be repaid with the following payments:
i) 100 at the end of the second year
ii) 200 at the end of the fourth year
iii) 300 at the end of the sixth year
iv) 400 at the end of the eighth year
v) 500 at the end of the tenth year.
Calculate the amount of interest included in the second payment.
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