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Monica bought a stereo for $6000 and arranged end of quarter payments of $800 (except for a smaller final payment) including interest at 5%
Monica bought a stereo for $6000 and arranged end of quarter payments of $800 (except for a smaller final payment) including interest at 5% p.a. compounded monthly. For full marks, in your Rough Work please construct the Full Amortization Schedule for the debt. Show all the totals. Additionally, please fill in the following values here: 1. The Principal Portion of the Final Payment. 2. The Interest Portion of the Final Payment. 3. The Final Payment amount. 4. The Total of All Interest Paid. 5. The Total of All Payments.
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