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Compute the principal repaid in the fourteenth payment

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Reference no: EM132942693

Question 1: A 25-year loan is paid by level annual payments of 2500 at the end of each year at an annual effective rate of interest i. The interest portion of the 10th payment is 1.4 times of the interest portion of the 18th payment. Compute the principal repaid in the 14th payment.

Reference no: EM132942693

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