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Posted on Oct 03, 2024

Suppose you borrow $ 1 0 , 0 0 0 . You are going to repay the loan by making equal annual payments for five

Suppose you borrow $

10, 000 .

You are going to repay the loan by making equal

annual payments for five years. The interest rate on the loan is

14

percent per year. What is

the amount of interest you will pay in Year

3 ?

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