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Step 1: Compute the Payments using the PMT formula adjusted for compounding Step 2: Compute the Payment Interest: = Beginning Balance * (Interest Rate/Compounding Period)

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Step 1: Compute the Payments using the PMT formula adjusted for compounding Step 2: Compute the Payment Interest: = Beginning Balance * (Interest Rate/Compounding Period) Step 3: Compute the Payment Principal: = Payments - Payment Interest Step 4: Compute the Ending Balance: = Beginning Balance - Principal

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