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How much principal most nearly does still have

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Problem 1: Mr. Aquino borrowed 15000 two years ago. The repayment terms of the loan are 10% interest for 10 years and uniform annual payments. He just made his second payment. How much principal, most nearly, does he still have?

a. 10 000
b. 11 700
c. 12 000
d. 13 000

Reference no: EM132737810

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