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1) Alar borrowed $20,000 to buy Season Gold tickets for the much-improved Toronto Maple Leafs. His Mom wants him to repay the loan back with
1) Alar borrowed $20,000 to buy "Season Gold tickets for the much-improved Toronto Maple Leafs. His Mom wants him to repay the loan back with equal quarterly payments over 10 years, with 12% interest compounded quarterly. (14.1) a) Find the size of those equal payments b) Draw a Partial Amortization Table which will have i) The First 4 payments (ii) Payment #20 iii) The last 4 payments 865.2x Payment Number Amount Paid Interest Paid i=__? Principle Repaid Outstanding Principal Balance 0 1 865.2x 2 3 20 (last payment)
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