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Suppose you borrow $120,000 and repay the loan through a series of equal payments at the end of each month for 5 years. Complete
Suppose you borrow $120,000 and repay the loan through a series of equal payments at the end of each month for 5 years. Complete the loan amortization table below up to month 4: Months Balance (at beginning of month) Payment (at end of month) 0 $120,000 $2319.94 1 $118280.06 $2319.94 2 $116551.52 $2319.94 3 $2319.94 Towards interest $600 $591.40 Towards principal $1719.94 4 $2319.94
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