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Show me the steps to solve Your company is planning to borrow $ 2 million on a 5 - year, 1 0 % , annual

Show me the steps to solve

Your company is planning to borrow $

2

million on a

5 -

year,

10 %,

annual payment, fully amortized term loan. What fraction of the payment made at the end of the second year will represent repayment of principal? Do not round intermediate calculations. Round your answer to two decimal places.

%

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