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1) Prepare a loan amortization schedule for the first two months of the mortgage shown in the following table Annual % rate: 8.5% Amount of

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1) Prepare a loan amortization schedule for the first two months of the mortgage shown in the following table Annual \% rate: 8.5% Amount of College loan: $40,000 Monthly Payments: 5347.13 Term: Years 20, Months 0 First Month Interest for the month = Prt Principal Payment = Monthly payment - Interest payment Balance of Loan = Principal balance - Principal payment Second Month

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