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Your company has just taken out a2-year installment loan for $95,000. The nominal rate is18%, but ...

citycyborg

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Your company has just taken out a2-year installment loan for $95,000. The nominal rate is18%, but ...

Your company has just taken out a2-year installment loan for $95,000. The nominal rate is18%, but with equal end-of-month payments. What percentage of the second monthly payment will go toward the repayment of principal?

▸

70.85%

▸

71.00%

▸

72.15%

▸

73.89%

Textbook

Financial Management: Theory and Practice

Edition: 4^th

Authors: Brigham, Ehrhardt, Gessaroli, Nason

Read 54 times

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tswinson3

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More solutions for this book are available here

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citycyborg Author

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10 months ago

I appreciate what you did here, answered it right Smiling Face with Open Mouth

loki1345

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Smart ... Thanks!

Gorgio_De

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2 hours ago

Thank you, thank you, thank you!

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