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Patricia has to repay her loan with payments of $700 at the end of each quarter for n years. The loan is subject to a
Patricia has to repay her loan with payments of $700 at the end of each quarter for n years. The loan is subject to a nominal annual interest rate of 10% compounded quarterly. The sum of the interest paid at the end of quarter 2n+ 1 and the interest paid at the end of quarter 3n + 1 is $426.00.
Determine the amount of principal repaid at the end of quarter 25.
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