How much interest will be paid over the eight-year period

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Reference no: EM131505620

Question: How much interest is payable each year on a loan of $2,000 if the interest rate is 10% per year when half of the loan principal will be repaid as a lump sum at the end of four years and the other half will be repaid in one lump-sum amount at the end of eight years? How much interest will be paid over the eight-year period?

Reference no: EM131505620

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