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PLEASE DONT WRITE THIS IN EXCEL, PLEASE BY TYPING OR HANDWRITING, Thanks! 6. [10 marks] Seth borrows X for four years at an annual effective

PLEASE DONT WRITE THIS IN EXCEL, PLEASE BY TYPING OR HANDWRITING, Thanks!

6. [10 marks] Seth borrows X for four years at an annual effective interest rate i(1) = 8%, to be repaid with equal payments at the end of each year. The outstanding loan balance at the end of the second year is 1076.82 and at the end of the third year is 559.12. Calculate the principal repaid in the first payment

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