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John borrowed $60,000 to buy a house. His loan cost was 10% and he promised to pay the load in 7 equal annual payments. How
John borrowed $60,000 to buy a house. His loan cost was 10% and he promised to pay the load in 7 equal annual payments. How much are the annual payments? In the first year, what amount of the annual payment goes towards interest and what amount goes toward paying the principal? SHOW WORK
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Venture Capital Valuation
Authors: Lorenzo Carver
1st Edition
0470908289, 978-0470908280
