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NO EXCEL. Please show how to solve manually without using excel. You have borrowed $300,000 at 4.9% APR for 30 years with monthly payments. -

NO EXCEL.

Please show how to solve manually without using excel.

You have borrowed $300,000 at 4.9% APR for 30 years with monthly payments.

- How much principal and how much interest are paid in the first month?

-How much principal and how much interest are paid in the first year?

- How much interest is paid in year 8?

-What is the loans remaining balance after 15 years?

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