Suppose XYZ company wants to borrow a loan, which needs to repaid with a series...
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Suppose XYZ company wants to borrow a loan, which needs to repaid with a series of payments at the end of EACHMONTH for 5 years. Consider the interest rate is 12% convertible monthly, and the amount of principal at the end of the first year is $50, find the amount of principal in the last two years?
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