Question: Solve the problem 5. A person borrows $40000 at an interest rate of 9% per year. It is desired to repay the loan in 10

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5. A person borrows $40000 at an interest rate of 9% per year. It is desired to repay the loan in 10 payments, with the first payment 3 years from now. If the payments are to increase by $200 each time, determine the size of the first payment

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