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A $9500 loan is to be amortized at 12% compounded quarterly with quarterly payments of $760. Complete the first three lines of an amortization schedule

A $9500 loan is to be amortized at 12% compounded quarterly with quarterly payments of $760. Complete the first three lines of an amortization schedule on your own paper. Then answer the following questions:

a. What is the balance at the end of the first quarter? b. What is the amount of interest paid in the third quarter?

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