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8. den NC Your company is planning to borrow $500,000 on a 5-year, 7%, annual payment, fully amortized term loan. What fraction of the payment

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8. den NC Your company is planning to borrow $500,000 on a 5-year, 7%, annual payment, fully amortized term loan. What fraction of the payment made at the end of the 2nd year will represent repayment of the principal? CO/

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