Problem 1. A loan of $10,000 at a fixed annual effective interest is being repaid by level

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Problem 1. A loan of $10,000 at a fixed annual effective interest is being repaid by level annual payments. The outstanding balance immediately after the 9th pay- ment is $6,665.29 and the outstanding balance immediately after the 18th payment is $1492.11. Determine the outstanding balance immediately after the 19th payment.

Posted Date: Jun 01, 2024 12:17 AM

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Problem 1. A loan of $10,000 at a fixed annual effective interest is being repaid by level

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