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8.Suppose you borrow $1,500 and agree to repay the loan in 6 equal monthly payments at 1.5% interest per month on the unpaid balance. Construct
8.Suppose you borrow $1,500 and agree to repay the loan in 6 equal monthly payments at 1.5% interest per month on the unpaid balance. Construct an amortization schedule showing how much of each payment is used for interest, how much is used to reduce the unpaid balance and the unpaid balance after the payment is made. How total total interest is paid over the 6 month period? How much is the unpaid balance at the end of month 4? total interest of $80/ unpaid balance of $515 total interest of $64/unpaid balance of $259 total interest of $72/ unpaid balance of $624 total interest of $80/ unpaid balance of $767 at the end of month 4
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