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A company borrowed $16,000 paying interest at 7% compounded annually. If the loan is repaid by payments of $1700 made at the end of each
A company borrowed $16,000 paying interest at 7% compounded annually. If the loan is repaid by payments of $1700 made at the end of each year, construct a partial amortization schedule showing the last three payments, the total paid, and the total interest paid. Complete the table below for the last three payments. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Principal Outstanding Number Amount Paid Interest Paid Repaid Principal 14 $1700 $ S
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