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Construct an amortization schedule for a $100, 12% nominal rate loan with 8 quarter equal payments. a.Find quarterly payment: b.Find periodic rate. c.Find interest payment
Construct an amortization schedule for a $100, 12% nominal rate loan with 8 quarter equal payments.
a.Find quarterly payment:
b.Find periodic rate.
c.Find interest payment for first quarter.
d.Find principal payment for first month.
e.Find ending balance for first month.
f.Find Total monthly payment
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