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06-06-2023
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Imagine you had to borrow e100,000 for 5 years to finance the acquisition of a new apartment. If you make annual payments (at the end of the year) at an interest rate of 10%, how much interest do you pay in the second year? a. $7,362 *b. $8,362 c. $10,000 d. $16,380 e. $26,380

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