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Debby Robinson Borrows $10,000 to Be Repaid Over 10 Years

Question 52

Multiple Choice

Debby Robinson borrows $10,000 to be repaid over 10 years with equal annual payments at 9%.Repayment of principal in the second year is:


A) $1,558.20.
B) $1,000.00.
C) $717.44.
D) $658.20.

Correct Answer:

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