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A $7,600.00 demand loan was taken out on March 4 at a fixed interest rate of 7.81% with fixed monthly payments of $1,230.00. The
A $7,600.00 demand loan was taken out on March 4 at a fixed interest rate of 7.81% with fixed monthly payments of $1,230.00. The first monthly payment is due April 4 and the 4th of every month thereafter. Prepare a full repayment schedule for the loan. (Round all monetary values to the nearest penny.) (Use a minus sign before the dollar sign to denote a negative monetary value. For example, "-$149.63".) (Give all "Number of Days" quantities as fractions with denominator 365.) Date Balance Annual before Interest Transaction Rate Number Interest Accrued of Days Charged Interest Payment (+) or Advance (-) Principal Amount Balance after Transaction Mar 4 $7,600.00 Apr 4 7.81% May 4 7.81% Jun 4 7.81% Jul 4 7.81% Aug 4 7.81% Sep 4 7.81% Oct 4 7.81%
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