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Your company has just taken a 12-month loan for $100,000. The interest rate is 12% p.a.and your company has to pay 12 equal monthly payments

Your company has just taken a 12-month loan for $100,000. The interest rate is 12% p.a.and your company has to pay 12 equal monthly payments due at the end of each month.

How much is paidtoward the interests in the 5th payment?

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