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6. Cameron Laberge borrowed $7,500 at 8% compounded monthly. He agreed to repay the loan in equal monthly payments at the end of each month

6. Cameron Laberge borrowed $7,500 at 8% compounded monthly. He agreed to repay the loan in equal monthly payments at the end of each month over four years. a) What is the size of the monthly payment? b) Prepare a partial amortization schedule showing details of the first three payments. (Use the next page for your table).

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