You have just borrowed $20,000 which you will repay in 10 equal annual paym
FIN 3300 You have just borrowed $20,000 which you will repay in 10 equal annual payments. The bank’s stated rate on its loan is 9%. Based on this information, how much principal will you repay in the 10th (i.e the last) year of the loan? Round answer to two decimal places
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