Equal annual instalments, Debbie borrows $3,500 from the

Equal annual instalments

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Reference no: EM13731025

Debbie borrows $3,500 from the bank at 12 percent annually compounded interest to be repaid in four equal annual instalments. What is her annual payment? What is the interest paid in the first year. What is the principal paid in the first year?

Reference no: EM13731025

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