Problemsuppose you borrowed 15000 at a rate of 85 and must, Ask an Expert

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Problem:

Suppose you borrowed $15,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years.

Requirement:

Question 1: How much would you still owe at the end of the first year, after you have made the first payment? Give details comprehensively and also show all workings.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91146937

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