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10. You borrowed $10,000 from a bank today. The current interest rate is 9%. You will make equal monthly payments over next 5 years. How
10. You borrowed $10,000 from a bank today. The current interest rate is 9%. You will make equal monthly payments over next 5 years. How much of the third payment reduces the outstanding balance of the loan? a. \$107.07 b. \$115.74 c. $124.91 d. $134.58
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