Jonathan borrowed $10,000 at % annual compound interest. He agreed to repay the loan with five equal annual payments of $2,373. 96 at end-of-years 15. How much of the annual payment is interest, and how much principal is there in each annual payment?.

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04-10-2022
Business

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Jonathan borrowed $10,000 at % annual compound interest. He agreed to repay the loan with five equal annual payments of $2,373. 96 at end-of-years 15. How much of the annual payment is interest, and how much principal is there in each annual payment?.

Sagot :

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