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10) $50,000 is borrowed, to be repaid in three equal, annual payments with 10% interest. Approximately how much principal is amortized with the first payment?

10) $50,000 is borrowed, to be repaid in three equal, annual payments with 10% interest. Approximately how much principal is amortized with the first payment? a. $2,010.60 b. $5,000.00 c. $15,105.74 d. $20,105.74

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