A small business borrows 80000 at 84 interest compounded


A small business borrows $80,000 at 8.4% interest compounded monthly for 8 years.

A. What is the monthly payment?

B. What is the unpaid balance at the end of the first year?

C. How much interest was paid in the first year?

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Mathematics: A small business borrows 80000 at 84 interest compounded
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