You borrow x for four years at an annual effective interest, Financial Management

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You borrow x for four years at an annual effective interest

You borrow X for four years at an annual effective interest rate of 8%, to be repaid with equal payments at the end of each year. The outstanding loan balance at the end of the third year is 559.12. Calculate the principal repaid in the first payment.

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Financial Management: You borrow x for four years at an annual effective interest

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Financial Management: You borrow x for four years at an annual effective interest

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