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Paying the interest portion

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Jason borrows $10,000 at an effective annual rate of 8.00% and promises to pay it back over 18 months with equal monthly installments. Out of the eleventh repayment (i.e. the repayment at t=11), how many dollars of the repayment go toward paying the interest portion and how many dollars go toward paying the principal portion?

Reference no: EM132267390

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