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You've just borrowed $30,000 with an annual interest rate of 8.5% and must repay it in 5 equal installments at the end of each of
You've just borrowed $30,000 with an annual interest rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. How much would you still owe after you have made the first payment?
$23,034.13
$19,118.33
$22,343.11
$22,112.76
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