A bank lends you $80,000 at a rate of 8.5% which must repay in 5 equal payments at the end of each of the next 5 years.

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A bank lends you $80,000 at a rate of 8.5% which must repay in 5 equal payments at the end of each of the next 5 years.

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A Bank Lends You 80 000 At A Rate Of 8 5 Which Must Repay In 5 Equal Payments At The End Of Each Of The Next 5 Years 1
A Bank Lends You 80 000 At A Rate Of 8 5 Which Must Repay In 5 Equal Payments At The End Of Each Of The Next 5 Years 1 (7.97 KiB) Viewed 33 times
A bank lends you $80,000 at a rate of 8.5% which must repay in 5 equal payments at the end of each of the next 5 years. By how much would you reduce the amount you owe in the first year?
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