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Question:
How much principal has been paid after 5 and 10 payments? $25,000 Loan. 10%/year for 3 years. $806/month?
Hello. As stated above, I'm trying to figure out how much principal has been paid toward the loan after 5 and 10 payments. The loan was for $25,000 and was to be paid over 3 years. The interest rate is 10% per year. Each payment has been $806.00/month.
Can anyone help and show me how you did it? Thanks!
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