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15. You have just purchased a car and taken out a $50,000 loan. The loan has a 5-year term with monthly payments and an APR

15. You have just purchased a car and taken out a $50,000 loan. The loan has a 5-year term with monthly payments and an APR of 6%. How much will you pay in interest, and how much will you pay in principal, during the first month and second month? (Hint: construct an amortization table to show the breakdown of interest and principal paid in the first two months)

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