You are borrowing $2 million to expand your business. The loan will be for 10 years at

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You are borrowing $2 million to expand your business. The loan will be for 10 years at 12% on the declining balance and will be repaid in equal quarterly instalments. What will the quarterly payments be? At the end of the first year, how much interest will you have paid? By how much will you have reduced the principal?

Posted Date: May 16, 2024 04:11 PM

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You are borrowing $2 million to expand your business. The loan will be for 10 years at

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