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Donald takes out a loan to be repaid with annual payments of 500 at the end of each year for 2n years. The annual effective
Donald takes out a loan to be repaid with annual payments of 500 at the end of each year for 2n years. The annual effective interest rate is 4.94% The sum of the interest paid in year 1 plus the interest paid in year n + 1 is equal to 720. Calculate the amount of interest paid in year 10. Donald takes out a loan to be repaid with annual payments of 500 at the end of each year for 2n years. The annual effective interest rate is 4.94% The sum of the interest paid in year 1 plus the interest paid in year n + 1 is equal to 720. Calculate the amount of interest paid in year 10
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