Your company is planning to borrow $0.75 million on a 9-year, 9%, annual payment, fully amortized...

Your company is planning to borrow $0.75 million on a 9-year, 9%, annual payment, fully amortized term loan. What fraction of the payment made at the end of the second year will represent repayment of principal? Round your answer to two decimal places.

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The answer has been presented in the supporting sheet. All the parts has been solved with detailed explanation and format. For detailed answer refer to the supporting sheet.

ekkarill92 answered 1 year ago

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