Business
Business, 06.01.2021 17:40, nnaomii

A bank customer borrows X at an annual effective rate of 12.5% and makes level payments at the end of each year for n years.(which fully repays the loan). i. The interest portion of the final payment is 142.78.
ii. The total principal repaid as of time (n − 1) is 6009.12.
iii. The principal repaid in the first payment is Y .

Calculate Y

answer
Answers: 3

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A bank customer borrows X at an annual effective rate of 12.5% and makes level payments at the end o...

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