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The WeLoveFinance Company borrows $150,000 today to be repaid in equal end-of-year payments over 4 years. The loan has an interest rate of 7%/year. c)
The WeLoveFinance Company borrows $150,000 today to be repaid in equal end-of-year payments over 4 years. The loan has an interest rate of 7%/year.
c) (2 points) What is the total interest expense paid in the first 2 years? Show P1 and P2.
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