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( Exercise 5 . 2 ) A loan of $ 1 4 0 0 0 is being repaid by installments of $ 2 0 0

(Exercise 5.2) A loan of $14000
is being repaid by installments of $2000
at the end of each year, and a smaller final payment made one year after the last regular payment. Interest is at the effective rate of 11.4
%. Find the amount of outstanding loan balance remaining when the borrower has made payments equal to the amount of the loan.
ANSWER = $

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