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| rev | Admin | (Created page with "A loan with an annual nominal interest rate of 9%, convertible monthly, is repaid with 60 monthly payments. The first payment is 1000 and each succeeding payment is 2% less than the previous payment. Calculate the outstanding loan balance immediately after the 40 th payment is made <ul class="mw-excansopts"><li>6889</li><li>7289</li><li>7344</li><li>7407</li><li>7862</li></ul> {{soacopyright | 2023 }}") | Nov 19'23 at 13:27 | +407 |