Question #320321
What does the difference 𝐿0−𝐿12 represent?
a.
The interest paid in the first year of the loan.
b.
The principal repaid in the first year of the loan.
c.
The principal repaid in the first 12 years of the loan.
d.
None of the other choices are correct
Expert's answer
a.
The interest paid in the first year of the loan.
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