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| rev | Admin | (Created page with "You are given the following information about a loan of L that is to be repaid with a series of 16 annual payments: *The first payment of 2000 is due one year from now. *The next seven payments are each 3% larger than the preceding payment *From the 9th to the 16th payment, each payment will be 3% less than the preceding payment. *The loan has an annual effective interest rate of 7%. Calculate L. <ul class="mw-excansopts"><li>20,689</li><li>20,716</li><li>20,775</li><...") | Nov 18'23 at 23:12 | +535 |