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Wilbur has a loan with an effective interest rate of 5 % per year. He makes payments at the end of each year for 10
Wilbur has a loan with an effective interest rate of 5 % per year. He makes payments at the end of each year for 10 years. The first payment is $ 200, and each subsequent payment increases by $ 25 per year. Calculate the interest portion of the fourth payment
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