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Your company has just taken out a I-year installment loan for $72,500 at a nominal rate of 11.5% but with equal end-of-month payments. What percentage

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Your company has just taken out a I-year installment loan for $72,500 at a nominal rate of 11.5% but with equal end-of-month payments. What percentage of the 2 nd monthly payment will go toward the repayment of principal? 76.53% 82.84% 74.73% 90.04% 91.84%

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