Your company has just taken out a 1-year installment loan for $82,500 at a nominal rate...

Your company has just taken out a 1-year installment loan for $82,500 at a nominal rate of 12.0% but with equal end-of-month payments. What percentage of the 2nd monthly payment will go toward the repayment of principal? 89.2% 90.5% 88.9% 88.5% 89.6%

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jeff jeffy answered 1 year ago

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