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You are about to borrow $10,000 from a bank at an interest rate of 8%.. You...

You are about to borrow $10,000 from a bank at an interest rate of 8%.. You are required to make 15 equal payments of $____ per year. How much of the 11thpayment (t=11) will go towards principal repayment?

Question 7 options:

785-805

805-815

815-825

825-835

None of the above
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