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zein | 16:55 Sat 30th May 2009 | Business & Finance
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You have borrowed $70,000 to buy rental property. You plan to make monthly payments over a 15-year period. The bank has offered you a 9% interest rate compounded monthly. Calculate the principal paid to the bank in month two of the loan. Assume end-of-period payments?
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73p

bu round it up to a fiver
if you can't even spell finance, you probably shouldn't be studying it.
I prefer polite requests for help with homework rather than instructions.

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