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You have guaranteed a SSNIT student loan for your niece. She will receive a total of Ghc 5000 at the beginning of her first year.

You have guaranteed a SSNIT student loan for your niece. She will receive a total of Ghc 5000 at the beginning of her first year. Thereafter, she will receive an increment of 10% at the beginning of each year for the remaining years of her undergraduate study. What will be the total amount she will owe SSNIT at the end of her four year study if the return on the loan is 15% per year?

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