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Calculate the amount of the last payment

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Reference no: EM133198557

A demand loan of $15,000 on October 10, 2020 at 6% p.a. simple interest was settled by a payment of $200 on February 27, 2021 and the outstanding balance on June 10, 2021. Using the declining balance method, calculate the amount of the last payment.

Reference no: EM133198557

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