What is the original amount of the loan

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Reference no: EM131965520

Karen plans to repay a loan with an effective rate of interest of 4.5% by annual payments. The first payment of $1100 comes one year from now, and each subsequent payment is $170 larger than the previous.

If she will make 23 total payments, what is the original amount of the loan?

Reference no: EM131965520

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