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Seth borrows X for 9 years at an annual effective rate of 5.75%. He will be repaying the loan with level payments at the end
Seth borrows X for 9 years at an annual effective rate of 5.75%. He will be repaying the loan with level payments at the end of each 6-month period. The principal repaid in 2nd payment is 580. Calculate the outstanding balance immediately after the 7th payment.
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