Which the present value of the remaining payments

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A 20-year loan is to be repaid with monthly payments beginning one month from today. Just after the 43rd payment has been made, the present value of the remaining payments is B. N is the number of the payment after which the present value of the remaining payments is less than half of B for the first time. You are given that d(4) = 8%. Find N.

Reference no: EM131573355

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