Suppose that the initial loan is 16000 and the interest, Ask an Expert

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Suppose that the initial loan is ?$16,000 and the interest rate is 0.5?% per month. Interest due is paid at end of each month. ?$8,000 of the original unpaid balance is to be repaid at the end of months two and three only. How much total interest would have been paid by the end of month three??

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Category:- Financial Management
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