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Question A four-year loan of $10,000 is to be repaid in equal monthly payments using the amortization method. The first payment is made one month

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Question A four-year loan of $10,000 is to be repaid in equal monthly payments using the amortization method. The first payment is made one month after the loan is issued. The nominal annual interest rate is 12% compounded monthly. Compute the amount of principal repaid in the 15th payment. Possible Answers A 188 B 199 211 D 222 E 233

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