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stranahan stranahan
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7 years ago
Assume a five-year equal payment amortization schedule with an annual interest rate of 12% and annual payments. If the beginning principal is $8,000, then the first interest payment will be how large?
A) $1,200.00
B) $2,219.28
C) $960.00
D) There is not enough information to answer this question.
Textbook 
Financial Management: Core Concepts

Financial Management: Core Concepts


Edition: 2nd
Author:
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waspchichesterwaspchichester
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7 years ago
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stranahan Author
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#2
7 years ago
Thank you very much for this. It's really helpful.
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