mrbear196 mrbear196

25-05-2023
Business

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your business has just taken out a 1-year installment loan for $72,500 at a nominal rate of 11.0% but with equal end-of-month payments. what percentage of the 2nd monthly payment will go toward the repayment of principal? a. 77.55% b. 90.45% c. 81.63% d. 85.93% e. 73.67%

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