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Interest on a 2 0 - year loan is charged based on an annual effective rate of 1 0 . 1 % . The loan
Interest on a year loan is charged based on an annual effective rate of
The loan is repaid by payments of at the end of each of the years through and each of the years through During years through no payments are made.
Calculate the absolute value of the difference between the outstanding balance immediately after the payment in year and the outstanding balance immediately after the payment in year
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