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Assume that you borrow $10,000 at an annual interest rate of 6%. Your loan agreement calls for monthly payments of $200, which ide both interest

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Assume that you borrow $10,000 at an annual interest rate of 6%. Your loan agreement calls for monthly payments of $200, which ide both interest and principal Your first payment is made one month after you received the loan. The amount of interest and principal applied to your first installment, would be: Select one: a. Interest of $150 and principal of $50. b. Interest of $60 and principal of $150. c. Interest of $140 and principal of $60. O d. Interest of $50 and principal of $150

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