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Suppose you graduate with a debt of $42,000 that you or someone must repay. One option is to pay off the debt in constant amounts
Suppose you graduate with a debt of $42,000 that you or someone must repay. One option is to pay off the debt in constant amounts at the beginning of each month over the next 10 years at a nominal ; annual interest rate of 10%. What is the constant beginning-of-month payment? Of the first payment, what is the interest and the principal paid
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