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A 20 year loan has level end of the year annual payments based on an annual interest rate of 6%. The principal portion of
A 20 year loan has level end of the year annual payments based on an annual interest rate of 6%. The principal portion of the 10th payment is 500. Calculate the interest portion of the 13th payment.
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
