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Business, 18.02.2021 23:10 AWFHayami

Suppose you borrowed $10,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. How much would you still owe at the end of the first year, after you have made the first payment? Select the correct answer. a. $8,312.34 b. $8,327.04 c. $8,268.24 d. $8,297.64 e. $8,282.94

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