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Question 7 A loan is being repaid with level annual payments based on an annual effective interest rate of 8%. If the amount of principal

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Question 7 A loan is being repaid with level annual payments based on an annual effective interest rate of 8%. If the amount of principal in the 10th payment is 100, calculate the amount of principal in the 5th payment. (a) 68.06 (b) 78.06 (c) 88.06 (d) 98.06 (e) 108.06

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