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Sammie is repaying a loan with quarterly payments for 30 years.The payments in the first year are 25 each. The payments in thesecond year are 50 each. The payments in the third year are 75each. The payments continue to increase in the same pattern untilthe payments in the 30th year are 750 each. The loan has a nominalinterest rate of 6% compounded quarterly. Calculate the amount ofSammie’s loan.
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