Made the first payment, Mr. W. Rooney borrowed $15,000 at a

Made the first payment

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Reference no: EM131308177

Mr. W. Rooney borrowed $15,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. How much would Mr. W. Rooney still owe at the end of the first year, after he has made the first payment?

Reference no: EM131308177

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