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

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

a. $5,000

b. $4,562

c. $4,809

d. Can not be determined with the information given .

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Foundations of Financial Management

ISBN: 978-1259194078

15th edition

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen

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Question Posted: Jan 09, 2013 03:00 AM

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

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b 4562 Computation of the Second payment interest In this case we would fir...View the full answer

Foundations of Financial Management

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