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Larry is repaying a loan with payments of $2,500 at the end of every two years. If the amount of interest in the fourth installment
Larry is repaying a loan with payments of $2,500 at the end of every two years. If the amount of interest in the fourth installment is $2,458, find the amount of principal in the seventh installment. Assume an annual effective interest rate of 13%. A) Less than $60 B) At least $60, but less than $70 C ) At leas At least $70, but less than $80 D At least $80, but less than $90 At least $90
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