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Q1) Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $25,292 with an annual interest
Q1) Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $25,292 with an annual interest rate of 05.00%. The loan will be repaid over 31 years with monthly payments.
a) What is the Loan Payment?
b) What portion of this payment is Interest?
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