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A $150,000 loan that charges 7.5% interest compounded quarterly is repaid by monthly payments over 17 years. 1. Calculate the principal portion of the 44th

A $150,000 loan that charges 7.5% interest compounded quarterly is repaid by monthly payments over 17 years.

1. Calculate the principal portion of the 44th payment?

2. Calculate the interest portion of the 55th payment?

3. How much will the principal be reduced by payments in the second year?

4. Calculate the total interest paid in the first year.

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