Solution-Equal payments will be made over a 3 year period

Equal payments will be made over a 3 year period the first

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You have borrowed 25,000.00 at an interest rate of 16%. Equal payments will be made over a 3 year period. (the first payment willbe made at the end of the first year.) What will the annual payment be, and what will the interest payment be for the second year?

Reference no: EM13573096

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Equal payments will be made over a 3 year period the first

Reference no: EM13573096

Reference no: EM13573096

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