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Suppose you borrowed $15,000 at a rate of 10% and must repay it in 5 equal payments at the end of each of the next

Suppose you borrowed $15,000 at a rate of 10% and must repay it in 5 equal payments at the end of each of the next 5 years. How much would you still owe at the end of the secondyear, after you have made the secondpayment?

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