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What would be the amount applied to paying

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Reference no: EM132849840

Question - Terms: Borrowed $30,000, by signing a 5 year installment note with 5% interest and annual payments of $6,929.24.

What would be the amount applied to paying of the principal balance for the 3rd payment?

a. $5,429.24

b. $12,884.31

c. $6,929.24

d. $5,985.74

Reference no: EM132849840

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