Suppose you borrowed 12000 at a rate of 9 and must repay it


Suppose you borrowed $12,000 at a rate of 9% and must repay it in 4 equal installments at the end of each of the next 4 years. How much interest would you have to pay in the first year?

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Finance Basics: Suppose you borrowed 12000 at a rate of 9 and must repay it
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