Question: Ana borrowed $ 2 2 , 5 0 0 at 4 . 0 0 % p . a . from her parents to start a

Ana borrowed $22,500 at 4.00% p.a. from her parents to start a business. In 2 months, she repaid $2,500 towards the loan, and in 10 months she repaid $7,600. How much would she have to repay her parents at the end of 14 months to clear the outstanding balance? Use the declining balance method to calculate the last payment.

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