How much interest would you have to pay in the first year

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Reference no: EM131942845

Suppose you borrowed $13,300 at a rate of 10.0% and must repay it in five equal installments at the end of each of the next five years.

How much interest (in dollars) would you have to pay in the first year? [Type in your answer to the nearest dollar]

Reference no: EM131942845

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