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Calculate the amount of the last payment

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Reference no: EM131782621

A demand loan of $10,000 on September 1, 2014 at 9% p.a. simple interest was settled by a payment of $300 on February 28, 2015 and the outstanding balance on April 26, 2015. Using the declining balance method, calculate the amount of the last payment.

Reference no: EM131782621

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