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Posted on Jul 11, 2024

Suppose you borrowed $45,000 at an annual rate of 6% and must repay it in 15 equal installments at the end of the next 15

Suppose you borrowed $45,000 at an annual rate of 6% and must repay it in 15 equal installments at the end of the next 15 years. How much is the total principal payoff after the sixth payment? (Round your answer to two decimal points)

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