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solina solina
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6 years ago
You have borrowed $70,000 to buy rental property. You plan to make monthly payments over a 15-year period. The bank has offered you a 9% interest rate compounded monthly. Calculate the principal paid to the bank in month two of the loan. Assume end-of-period payments.
A) $184.01
B) $186.38
C) $188.46
D) $190.64
E) $192.73
Textbook 
Financial Management: Principles and Applications

Financial Management: Principles and Applications


Edition: 13th
Authors:
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Heavy Heart Thank you bio-forums! Heavy Heart
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David_hessDavid_hess
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6 years ago
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solina Author
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#2
6 years ago
Thanks for helping me with my business management course
Heavy Heart Thank you bio-forums! Heavy Heart
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