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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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