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Consider a loan of 1,000,000 that is paid off quarterly over a period of nine years. The interest rate is 6% compounded yearly. The first
Consider a loan of 1,000,000 that is paid off quarterly over a period of nine years. The interest rate is 6% compounded yearly. The first quarter has been completed for you. Calculate the amount of interest and loan principle repaid corresponding to second quarter. (You can use Excel for this question, copy and paste from Excel)
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