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A $70,000 loan was amortized over 14 years at 3.50% compounded quarterly. Payments were made at the end of every month to clear the loan.

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A $70,000 loan was amortized over 14 years at 3.50% compounded quarterly. Payments were made at the end of every month to clear the loan. a. What is the size of the payments at the end of every month? $0.00 Round to the nearest cent b. What was the balance at the end of 4 years? $0.00 Round to the nearest cent c. What was the interest portion of payment 84? $0.00 d. What was the principal portion of payment 34? $0.00 Round to the nearest cent e. How much interest was paid in year 9? $0.00

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