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A declining-balance loan for $3000 entails paying about $275.00 for each of twelve months, for a total of about $3300 in payments. The loan's interest

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A declining-balance loan for $3000 entails paying about $275.00 for each of twelve months, for a total of about $3300 in payments. The loan's interest rate is 18% per year. How much of the loan's second payment goes to paying interest? $41.55 $40.88 $45 $36.75 $42.58

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