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Mathematics, 07.03.2020 05:11 joshajgaa

Seth repays a 30-year loan with a payment at the end of each year. Each of the first 20 payments is 1200, and each of the last 10 payments is 900. Interest on the loan is at an annual effective rate of i, i>0. The interest portion of the 11th payment is twice the interest portion of the 21st payment. Calculate the interest portion of the 21st payment.

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