Your company has just taken out a 1-year installment loan for $72,500 at a nominal rate of

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Your company has just taken out a 1-year installment loan for $72,500 at a nominal rate of 11.0% but with equal end-of-month payments. What is the 2ndmonthly payment will go toward the repayment of principal?

Posted Date: May 19, 2024 05:18 AM

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Your company has just taken out a 1-year installment loan for $72,500 at a nominal rate of

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