A loan is to be repaid in level installments payable at the
A loan is to be repaid in level installments payable at the end of each year for 7 years. The effective annual interest rate on the loan is 4%. After the 4th payment the principal remaining is $5000. Find the amount of the loan.
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a loan is to be repaid in level installments payable at the end of each year for 7 years the effective annual interest
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