How much interest will be paid over the eight year period

Reference no: EM13204328

How much interest is payable each year on a loan of $2000 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, and how much interest will be paid over the eight year period?

Reference no: EM13204328

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