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Q11) Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $38,192.00 with an annual interest
| Q11) Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $38,192.00 with an annual interest rate of 5.27% . The loan will be repaid over 5.0 years with monthly payments. |
| a) Loan payment (1 point) |
| b) Interest portion (1 point) |
| c) Principle portion (1 point) |
| d) Loan balance after first monthly payment (1 point) |
answer to 2 decimals
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Technology And Finance Challenges For Financial Markets Business Strategies And Policy Makers
Authors: Morten Balling, Frank Lierman, Andy Mullineux
1st Edition
041529827X, 978-0415298278
