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A $7,650.00 demand loan was taken out on March 4 at a fixed interest rate of 7.69% with fixed monthly payments of $1,170.00. The
A $7,650.00 demand loan was taken out on March 4 at a fixed interest rate of 7.69% with fixed monthly payments of $1,170.00. 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.) Balance Annual Date before Interest Transaction Rate Number Interest Accrued of Days Charged Interest Payment (+) or Advance (-) Principal Balance after Amount Transaction Mar 4 $7,650.00 Apr 4 7.69% May 4 7.69% Jun 4 7.69% Jul 4 7.69% Aug 41 7.69% Sep 4 7.69% Oct 4 7.69%
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