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Question A loan is being repaid with a first payment of 2,500 at the end of the first year and subsequent payments decreasing by 100

Question A loan is being repaid with a first payment of 2,500 at the end of the first year and subsequent payments decreasing by 100 at the end of each year thereafter. Assuming an annual effective rate of 10%, calculate the loan amount X. Possible Answers A 11,346 B 13,615 C 15,923 D 17,396 E 18,112

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