[Solved] A loan of $ 1 0 , 0 0 0 is being repaid w

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A loan of $ 1 0 , 0 0 0 is being repaid with payments at the end of each year over 5 years at

A loan of $

10, 000

is being repaid with payments at the end of each year over

5

years at an effective interest rate of

10 % .

Compute the principal in the second payment on this loan.

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