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The loan of 15, 000 is being repaid by 10 monthly installments with the first 5 payments of X and the last 5 payments of 3X. The interest rate is 12% converted monthly. Calculate the amount of principal paid in the 5th installment. (b) the amount of interest paid in the 9th installment.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9798722

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