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22-04-2024
Business

Answered

Suppose you borrowed $30,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. How much would you still owe at the end of the first year, after you have made the first payment?
A. $5,068.07
B. $5,052.77
C. $5,062.97
D. $5,073.17
E. $5,057.87

Answer :

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