Solution-Find how much would still owe at the end of the

Find how much would still owe at the end of the first year

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Problem 1: Suppose you borrowed $35,000 at a rate of 3.5% and must repay it in 10 equal installments at the end of each of the next 10 years. How much would you still owe at the end of the first year, after you have made the first payment?

a. $30,155.68

b. $30,690.19

C. $31,252.83

d. $31,845.09

e. $32,016.55

Reference no: EM132653451

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Find how much would still owe at the end of the first year

Reference no: EM132653451

Reference no: EM132653451

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