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| rev | Admin | (Created page with "A loan of 20,000 is to be repaid with payments at the end of each year for ten years. The first payment is X. Each subsequent payment is 6% greater than the preceding payment. The loan payments are based on an annual effective interest rate of 10%. Calculate the loan balance immediately after the eighth payment. <ul class="mw-excansopts"><li>6685</li><li>6937</li><li>7353</li><li>7794</li><li>8088</li></ul> {{soacopyright | 2023 }}") | Nov 19'23 at 13:58 | +438 |