Question: A loan is repaid with level monthly payments based on an annual effective interest rate of 5%. The 36th monthly payment consists of $18.19 of

A loan is repaid with level monthly payments based on an annual effective interest rate of 5%. The 36th monthly payment consists of $18.19 of interest and $170.01 of principal. calculate the amount of principal paid in the seventh monthly payment. answers: 150, 151.10, 152.20 153.30 or 154.40

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