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Posted on Aug 06, 2024

your company is planning to borrow $ 2 . 7 5 million on a 5 - year , 8 % , annual payment , fully

your company is planning to borrow $

2.75

million on a

5 -

year

, 8 %,

annual payment

,

fully amortized term loan. What fraction of the payment made at the end of the second year will represent repayment of principal

?

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