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Chapter 8-Chapter 9: 7) Tim borrowed $2900.00 from Keewatin Credit Union at 12% per annum calculated on the monthly balance. He will pay $600 every

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Chapter 8-Chapter 9: 7) Tim borrowed $2900.00 from Keewatin Credit Union at 12% per annum calculated on the monthly balance. He will pay $600 every month. Calculate the table for year 1 and 2: Interestpaid Principal repaid Balance after payment 2900 Paymentnumber Balancebefore Amount payment Paid 0 1 2900 600 2 600 3 4 5 Totals

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