Calculate the level payments

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Reference no: EM131495399

A loan of 1500 is paid over 6 years at effective rate 7% with five payments of 300 and a final bigger payment. Calculate the bigger payment.

At time t=2, an extra payment of 165.93 is made and the loan is refinanced at 10% with only 3 more level payments. Calculate the level payments.

Reference no: EM131495399

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