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What is the annual payment or an interest-only type of loan

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Reference no: EM132930240

Question 1: If you borrow $50,000 at an annual interest rate of 12% for six years, what is the annual payment (prior to maturity) or an interest-only type of loan?

A) 0
B) $6,000
C) $8,333.33
D) $12,161.29

Reference no: EM132930240

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