Your bank offers to lend you 230000 at an 85 annual


Your bank offers to lend you $230,000 at an 8.5% annual interest rate to start your new business. The terms require you to amortize the loan with 10 equal end-of-year payments. How much of the principal would you be paying back during the 3rd year?

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Financial Management: Your bank offers to lend you 230000 at an 85 annual
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