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Homework answers / question archive / Sarah borrowed $100,000 at 8% for 10 years on January 1, 2020 from a local bank
Sarah borrowed $100,000 at 8% for 10 years on January 1, 2020 from a local bank. The loan is supposed to be paid back interest only for the first 5 years and principal and interest together starting beginning year six. The loan will be paid off on December 31, 2030. How much total interest she will pay at the end of year 2030?
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