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QUESTION 1 Your company wishes to borrow $150,000 over 5 years at 8% per year. The loan contract calls for a principal reduction of $30,000/year.

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QUESTION 1 Your company wishes to borrow $150,000 over 5 years at 8% per year. The loan contract calls for a principal reduction of $30,000/year. How much interest is paid in the 3rd year

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