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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

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