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Given the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments
Given the annual interest rate and a line of an amortization schedule for that loan, complete
the next line of the schedule. Assume that payments are made monthly.
Annual Interest Rate | Payment | Interest Paid | Paid on Principal | Balance | |
---|---|---|---|---|---|
12.1% | $244.11 | $38.27 | $205.84 | $3,590.37 |
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Part 1
Fill out the amortization schedule below.
Annual Interest Rate | Payment | Interest Paid | Paid on Principal | Balance | |
---|---|---|---|---|---|
12.1% | $244.11 | $38.27 | $205.84 | $3,590.37 | |
? | ? | ? | ? |
(Round to the nearest cent as needed.)
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