Moe Howard borrows $10,500 from the bank at 11 percent annually compounded interest to be repaid in six equal annual installments.The interest paid in the first year is

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The Answer of Moe Howard borrows $10,500 from the bank at 11 percent annually compounded interest to be repaid in six equal annual installments.The interest paid in the first year is

Moe Howard Borrows $10,500 from the Bank at 11 Percent