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Find how much of second payment goes towards principal

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Reference no: EM132970010

Problem 1: You are borrowing $750,000 to invest in a commercial real estate property. The loan requires quarterly payments, each made at the end of the quarter. The loan period is 5 years, and the interest rate is 8%. What will your payment be? How much of the 2nd payment goes towards principal reduction?

Reference no: EM132970010

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