A 10-year loan in the amount of 238000 is to be repaid in
A 10-year loan in the amount of $238,000 is to be repaid in equal annual payments. The interest rate is 7 percent, compounded annually. What is the amount of interest that is included in the loan payment for Year 3?
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a 10-year loan in the amount of 238000 is to be repaid in equal annual payments the interest rate is 7 percent
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