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Suppose you borrowed $35.000 at a rate of 8.5% and must repay it in 5 equal instaliments at the end of each of the next

Suppose you borrowed $35.000 at a rate of 8.5% and must repay it in 5 equal instaliments at the end of each of the next 5 years. By how much would you reduce the amount you out in the first year? O $7,324.43 O $5,788.67 O $5,375.19 $5,906.80

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