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Eve borrows 10,000. The loan is being repaid with the following sequence of monthly payments: 100,...

Eve borrows 10,000. The loan is being repaid with the following sequence of monthly payments: 100, 150, 100, 150, 100, 150, etc. The annual nominal interest rate is 7.56% payable monthly.

Calculate the amount of principal repaid in the 13th payment.

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The formulas and the inputs used is as follows:


The result is as follows:


jeff jeffy answered 1 year ago
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