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Fill the blanks and answer what is (a) and (b) A person borrows $1,000,000 from a bank at yearly compound interest of 8 percent
Fill the blanks and answer what is (a) and (b) A person borrows $1,000,000 from a bank at yearly compound interest of 8 percent and repay $400,000 every year. year payment balance Principal 1,000,000 1st 400,000 2nd 3rd 4th Then, you will pay off (a) years later and the final payment is (b).
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