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Loan of EGP 30,000 is taken out. A sinking fund is set up to pay back the EGP 30,000 in one lump sum at the

Loan of EGP 30,000 is taken out. A sinking fund is set up to pay back the EGP 30,000 in one lump sum at the end of 5 years. The sinking fund earns j4 = 4% and deposits are made Quarterly. Find the book value of the debt after 3 years.

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