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Joseph borrowed $1800 from the bank at 7.6% per annum calculated on the unpaid monthly balance. He agreed to repay the loan in blended payments
Joseph borrowed $1800 from the bank at 7.6% per annum calculated on the unpaid monthly balance. He agreed to repay the loan in blended payments of $220 per month. How much of the first payment is applied to principal?
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
