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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

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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? O a. $5,804.89 O b. $5,572.70 O C. $5,920.99 O d. $5,108.30 O e. $4,469.77

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