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A mortgage loan is made in the amount of $92,758 at 8% for 20 years with payments to be made monthly. Assume a fixed rate

A mortgage loan is made in the amount of $92,758 at 8% for 20 years with payments to be made monthly. Assume a fixed rate and constant payments. Complete the following portion of the amortization schedule for this loan on scratch paper.

Month Beginning Loan Balance Monthly Payment Interest Amortization* Ending Loan Balance
1 92,758
2 [?]

Once you are done, in the box below, please indicate the value for Amortizaton* in month 2 [e.g. the value you inserted in the cell with the [?] symbol]

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