Suppose that the initial loan of 20000 and interest rate 12, Business Economics

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Suppose that the initial loan of 20000 and interest rate 12

Suppose that the initial loan of $20,000 and interest rate 1.2% per month. Interest due is paid at end of each month. $10,000 of the original unpaid balance is to be repaid at the end of month two and three only. How much total interest would have been paid by the end of month three?

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Business Economics: Suppose that the initial loan of 20000 and interest rate 12

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