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Need help please! The Egg House just borrowed $860,000 to buld a new restaurant. The loan terms call for equal annual payments at the end
Need help please! 
The Egg House just borrowed $860,000 to buld a new restaurant. The loan terms call for equal annual payments at the end of each year. The loan is for 20 years at an APR of 8.35 percent. How moch of the firt annual payment wil be used to reduce the principal balance? 51,315,62 $23.853.48 $13,21106 518,911.08 51397274 Step by Step Solution
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Financial Markets And Institutions
Authors: Jeff Madura
9th Edition
1439038848, 978-1439038840
