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You want to borrow $10,000. You figure that you can make the following payments. If the interest rate on the loan is 8.1% per year,
You want to borrow $10,000. You figure that you can make the following payments. If the interest rate on the loan is 8.1% per year, will your payments be enough to pay off the $10,000 loan?
Year | 1 | 2 | 3 | 4 |
CF | $1,920 | $3,080 | $3,340 | $3,822 |
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