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Example 2 . 1 7 Creating a Graduated ( divided into regular stages ) Loan Repayment with a Linear Gradient Series; Given P , A

Example 2.17 Creating a Graduated (divided into regular stages)
Loan Repayment with a Linear Gradient Series; Given P, A1, N and i Find: G
You borrowed $10,000 from a local bank, with the agreement that you will pay back the loan according to a graduated payment plan. If your first payment is set at $1,500, what would the remaining payment look like at a borrowing rate of 10% over five years?
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