A loan of $12,000 with interest at 14% compounded annually is to be amortized by equal payments

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A loan of $12,000 with interest at 14% compounded annually is to be amortized by equal payments at the end of each year for six years.

What is the outstanding principal just after the fifth payment?

Posted Date: May 18, 2024 02:13 PM

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A loan of $12,000 with interest at 14% compounded annually is to be amortized by equal payments

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