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If a Student Borrows $20,000 to Start a Business as a 5

Question 4

Multiple Choice

If a student borrows $20,000 to start a business as a 5 year,10% loan,assume annual payments,the decrease in principal in year 1 is

A) $2,000.00
B) $3,275.95
C) $4,000.00
D) $5,275.95
E) None of these.

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