You have borrowed $50,000 at an interest rate of 12%. Equal payments will be made over a
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You have borrowed $50,000 at an interest rate of 12%. Equal payments will be made over a three-year period. (The first payment will be made at the end of the first year.) What will the annual payment be, and what will the interest payment be for the second year?
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Equal annual payment 4 50000 AP12 3 2081745 I...View the full answer
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