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【General guidance】The answer provided below has been developed in a clear step by step manner.Step1/1ExplanationHence this is the required solution let p(n) bethe amount you owe.let M be the amount you pay in int erest. rate ramount of interest you pay in nth month is gamma p(n).Income inveases by a foctor of (1+S) Amount youpaytowards principal is M-rp(n).Wth month pa ... See the full answer