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How much is the loan balance at the end of the third year

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Question - Loan amortization: ending balance - Suppose you borrowed $12,000 at a rate of 6% and must repay it in 4 equal installments at the end of each of the next 4 years. How much is the loan balance at the end of the third year, after you have made your third payment?

Reference no: EM132812176

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