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1) A loan of $15000 is amortized with equal end of month payments made for 5 years. It is charged 6% p.a. compounded monthly. a)

1) A loan of $15000 is amortized with equal end of month payments made for 5 years. It is charged 6% p.a. compounded monthly.

a) What is the amount of each monthly payment?

b) What was the balance remaining after the 20^th payment?

c) How much interest was paid from the 10^th to 12^th payment periods?

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