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Suppose you have a loan of amount P, and you plan to pay off the debt in 10 equal annual installments. Suppose the annual compounding

Suppose you have a loan of amount P, and you plan to pay off the debt in 10 equal annual installments. Suppose the annual compounding rate is r. What is the present (t = 0) value of the 7th installment? (Express your answer in terms of the variables in the problem P and r and simplify your answer.)

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