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On January 1, Alice bought a new car with a loan of $80,000. She will repay the loan in the next 10 years (10 equal
On January 1, Alice bought a new car with a loan of $80,000. She will repay the loan in the next 10 years (10 equal EOY payments). With an interest rate of 8% per year, find how much of the original principal of $80,000 will be paid in the 2nd payment?
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