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You have received a 3-year $10,000 loan from your bank. This is an amortized loan which means you have to make 3 equal payments to
You have received a 3-year $10,000 loan from your bank. This is an amortized loan which means you have to make 3 equal payments to the bank. The bank is charging you 12% interest for this loan. a) complete an amortization schedule b) how much in total you end up paying back to the bank?
a) complete an amortization schedule
b) how much in total you end up paying back to the bank?
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