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suppose you borrowed $12,000 at a rate of 9% and must repay it in 4 equal installments at the end of each of the next

suppose you borrowed $12,000 at a rate of 9% and must repay it in 4 equal installments at the end of each of the next 4 years.

How much would your payments be ?

By how much would you reduce the amount you owe in the first year?

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no excel please

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