You have just borrowed 20000 which you will repay in 10, Finance Basics

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You have just borrowed 20000 which you will repay in 10

Question: You have just borrowed $20,000, which you will repay in 10 equal annual payments. The bank's stated rates on its loans is 9%. Based on this information, how much pricipal will you repay in the 10th (i.e. the last) year of the loan? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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Finance Basics: You have just borrowed 20000 which you will repay in 10

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