Multiple Choice
You borrow $50,000 on a line of credit to finance your startup company,to be repaid in three equal,annual payments with 10% interest.Approximately how much of the principal is paid off on the first payment?
A) $5000.00
B) $16,666.67
C) $15,105.74
D) $20,105.74
Correct Answer:
Verified
Correct Answer:
Verified
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