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QUESTION
A 25-year loan is to be repaid with equal installments at the end of each yeas. The amount of interest paid in the 6th installment is $162. The...
A 25-year loan is to be repaid with equal installments at the end of each yeas. The amount of interest paid in the 6th installment is $162. The amount of interest paid in the 16th installment is $132. Calculate the amount of interest paid in the 21st installment.
