Our company is planning to borrow 05 million on a 3-year 16, Ask an Expert

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Our company is planning to borrow $0.5 million on a 3-year, 16%, annual payment, fully amortized term loan. What fraction of the payment made at the end of the second year will represent repayment of principal? Round your answer to two decimal places.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92389606

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