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Business, 17.02.2020 22:00 emily200705

You borrow $10,000 at 15% per year and will pay off the loan in three equal annual payments with the fi rst occurring at the end of the fourth year after the loan is made. The three equal annual payments will be $6,661.08.
What will be the interst and principal for your first payment at the end of year 4?

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You borrow $10,000 at 15% per year and will pay off the loan in three equal annual payments with the...

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