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Complete the loan amortization schedule for a car loan that will be repaid over 60 months and answer the following questions (The details about the
Complete the loan amortization schedule for a car loan that will be repaid over 60 months and answer the following questions (The details about the loan are shown below): |
1. What is your monthly payment? | |||||
2. What is the total $ amount of payments made over the life of the loan |
Loan Input Data | Amount |
Principal Amount | $47,000.00 |
Annual Interest Rate | 4.20% |
Periods Per Year | 12 |
Total Number of Payments | 60 |
Percentage Rate Per Period | 0.35000% |
Payment No. | Beginning Balance | Payment Amount | Interest Paid | Principle Paid | Ending Balance |
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