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On March 8 , Manuel borrowed $ 7 0 0 . 0 0 from his uncle at 4 . 3 % per annum calculated on
On March Manuel borrowed $ from his uncle at per annum calculated on the daily balance.
He gave his uncle six cheques for $ dated the th of each of the next six months starting April and
a cheque dated October for the remaining balance to cover payment of interest and repayment of
principal. Construct a complete repayment schedule for the loan including totals for Amount Paid,
Interest Paid, and Principal Repaid.
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