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James borrowed $10,000 at 10% compounded annually; he pays off the loan over a 5-year period with annual payment. Each successive payment is $200 greater

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James borrowed $10,000 at 10% compounded annually; he pays off the loan over a 5-year period with annual payment. Each successive payment is $200 greater than the previous payment. Determine how much he should pay for the first payment

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