Homework answers / question archive / A friend of yours borrows $19,500 from the bank at 8% annually to be repaid in 10 equal annual end-of-year installments

A friend of yours borrows $19,500 from the bank at 8% annually to be repaid in 10 equal annual end-of-year installments

Accounting

Share With

A friend of yours borrows $19,500 from the bank at 8% annually to be repaid in 10 equal annual end-of-year installments. What is the accumulated interest paid on this loan in year three?