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You have been pre-approved for a $25,000 loan at 8% interest from a local bank through a program with the Small Business Administration. In addition

You have been pre-approved for a $25,000 loan at 8% interest from a local bank through a program with the Small Business Administration. In addition to the interest due, the bank will automatically deduct $2,500 each quarter for principal reduction. Why is my fixed cost interest payment $500?

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