If you borrow $50,000 today at 10% interest for eight years. How much of your first payment

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If you borrow $50,000 today at 10% interest for eight years. How much of your first payment will be applied towards the principal of the loan? (Points: 3)

a. $5,000

b. $4,372

c. $4,790

d. Zero, all will be applied towards the interest

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Foundations of Finance The Logic and Practice of Financial Management

ISBN: 978-0132994873

8th edition

Authors: Arthur J. Keown, John D. Martin, J. William Petty

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Question Posted: Sep 19, 2013 02:52 AM

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If you borrow $50,000 today at 10% interest for eight years. How much of your first payment

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Foundations of Finance The Logic and Practice of Financial Management

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