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QUESTION 2 A loan is repaid monthly and the annual effective interest rate is 7% per annum. The capital outstanding just after the 74th payment

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QUESTION 2 A loan is repaid monthly and the annual effective interest rate is 7% per annum. The capital outstanding just after the 74th payment is 161,805 Calculate the interest content of the 75th payment. Give your answer to two decimal places

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