Question: Adonis borrows $ 2 8 , 0 0 0 to be repaid over 9 years at 1 2 percent. Repayment of principal in the first

Adonis
borrows $28,000 to be repaid over 9 years at 12 percent. Repayment of principal in the first year is: Use Appendix D to calculate the answer.
Note: Round your intermediate calculations to the nearest dollar value.

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