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suppose you borrowed 12000 at a rate of 7.5% and must repay itin 4 equal installments at the end of the each of the next

suppose you borrowed 12000 at a rate of 7.5% and must repay itin 4 equal installments at the end of the each of the next 4 years.By how much would you reduce the amount you owe in the firstyear? 2 answers

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