How much would reduce the amount owe in the first year
Problem 1: Suppose you borrowed $70,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. By how much would you reduce the amount you owe in the first year?
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How much would you reduce the amount you owe in the first year? Suppose you borrowed $70,000 at a rate of 8.5% and must repay it in 5 equal installments.
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