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Suppose you borrowed $ 2 5 , 0 0 0 at a rate of 8 . 5 % and must repay it in 5 equal

Suppose you borrowed $25,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. By how much would you reduce the amount you owe in the first year?
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