Question: A $4000 loan at 7.5% compounded monthly was settled by a single payment of $5000 including accrued interest. The $5,000 payment was made December 14,

A $4000 loan at 7.5% compounded monthly was settled by a single payment of $5000 including accrued interest. The $5,000 payment was made December 14, 2017. When was the $4,000 loan made? For the purpose of determining the number of days in a partial month, assume that a full month has 30 days.

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