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How much of your total repayment is for interest

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Question - You have borrowed $100,000 to provide working capital to start your new community health center. If that loan is for 5 years at a 6 percent interest rate:

a) How much must you repay monthly for each $1,000 borrowed?

b) How much must you repay in total over the 5 years?

c) How much of your total repayment is for interest?

Reference no: EM133170240

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