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Question 4 You are given the following information about a loan: Effective rate of interest is 4% Loan repaid with 20 annual year-end payment of

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Question 4 You are given the following information about a loan: Effective rate of interest is 4% Loan repaid with 20 annual year-end payment of 8,830 Balance at the end of the 4th year is 102,890 Find the amount of principal repaid in the 15th annual installment. Principal repaid in the 15th payment Please show your work below

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