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02-01-2023
Business

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On january 1, year 1, the palms borrowed $200,000 to purchase a warehouse by agreeing to a 8%, 5-year note with the bank. payments of $50,091.29 are due at the end of each year. the first payment will be made on december 31, year 1. how much will the company still owe on the loan at the end of year 2

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