Question: The simple interest rate on a $5000 loan is 7%. The loan is to be repaid by four equal payments on dates 100, 150, 200,

The simple interest rate on a $5000 loan is 7%. The loan is to be repaid by four equal payments on dates 100, 150, 200, and 250 days from the date on which the loan was advanced. What is the amount of each payment?

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