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An auto repair shop borrowed $18,000 to be repaid by monthly payments over 7 years. Interest on the loan is 6% compounded monthly. (a) What

An auto repair shop borrowed $18,000 to be repaid by monthly payments over 7 years. Interest on the loan is 6% compounded monthly.

(a) What is the size of the periodic payment?

(b) What is the outstanding principal after payment 31?

(d) How much principal is repaid in payment 32?

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