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Jacques has just been notified that the combined principal and interest on an amount he borrowed 20 months ago at 7.8% compounded monthly is now
Jacques has just been notified that the combined principal and interest on an amount he borrowed 20 months ago at 7.8% compounded monthly is now $3,597.78. How much of this amount is principal and how much is interest? (Do not round intermediate calculations and round your final answers to 2 decimal places.)
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Managerial Economics and Business Strategy
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