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Please write out work of answer not just using graphs from computer programs. Phil takes out a loan for 100,000 to be repaid in 360

Please write out work of answer not just using graphs from computer programs.image text in transcribed

Phil takes out a loan for 100,000 to be repaid in 360 monthly installments at an annual effective interest rate of 10 %. Which of the 360 payments will be the first in which the amount of principal paid is more than two-thirds the amount of interest paid

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