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Ryan borrows X at an effective annual rate of 11.5% and makes level payments at the end of each year for n years. The interest
Ryan borrows X at an effective annual rate of 11.5% and makes level payments at the end of each year for n years. The interest portion of the final payment is 180.04. The total principal repaid as of time n-1 is 6185.47. The principal repaid in the first payment is Y. calculate Y.
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