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3. Loan Repayment Schedule (Amortization Table) (16 points) Beth has just borrowed $5,000 on a five-month loan at an APR of 9%. The monthly payment
3. Loan Repayment Schedule (Amortization Table) (16 points) Beth has just borrowed $5,000 on a five-month loan at an APR of 9%. The monthly payment is fixed at $1,273.53. a) What is the monthly interest payment and monthly principal payment in the first month? (4 points) b) What is the remaining balance at the end of first month? ( 2 points) c) Calculate and complete the entire amortization table below from month 1 to month 4 . (Round to two decimal places) (10 points) *Note: It is possible that you obtain a small neqative number in the last row of the Remaining Balance instead of a Zero, and it is due to the rounding accuracy of the given fixed monthly payment
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