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On 1/1/X1, Big Bank Loaned $200,000 to Laurel Company for 3 years at a 4% annual interest rate. The loan terms call for Laurel to
On 1/1/X1, Big Bank Loaned $200,000 to Laurel Company for 3 years at a 4% annual interest rate. The loan terms call for Laurel to make equal payments of $72,069.71 to Big Bank on 12/31 of each year. In year X1 Laurel Company will pay down which ofthe following amounts of loan principal?
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