You take out a 800000 amortized loan for your new beach


You take out a $800,000 amortized loan for your new beach house. You will make equal annual payments at the end of each of the next 10 years. The interest rate is 8%. How much of the first annual payment will be principal reduction?

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Financial Management: You take out a 800000 amortized loan for your new beach
Reference No:- TGS01130338

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