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Kent took out a loan at 4.5% convertible semi-annually for 10 years. The first semi-annual payment due 6-months from the loan date is 1030. Each

Kent took out a loan at 4.5% convertible semi-annually for 10 years. The first semi-annual payment due 6-months from the loan date is 1030. Each subsequent semi-annual payments increase by 30. What is Kent's loan balance immediately after the 9th payment?

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