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Jonathan borrowed $15,000 at 7% annual compound interest. He agreed to repay the loan with five equal annual payments at end-of-years 1-5. How much of
Jonathan borrowed $15,000 at 7% annual compound interest. He agreed to repay the loan with five equal annual payments at end-of-years 1-5. How much of the annual payment is interest, and how much principal is there in each annual payment? Click the icon to view the interest and annuity table for discrete compounding when i = 7% per year. Fill in the table below. (Round to the nearest dollar.) Payment Number Interest Payment Principal Repayment 4
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