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The annual interest rate and a line of an amortization schedule for a loan are given. Complete the next line of the schedule. Assume that

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The annual interest rate and a line of an amortization schedule for a loan are given. Complete the next line of the schedule. Assume that payments are made monthly. Round all answer to the nearest cent. Paid on month 1 month 2 Annual Interest Rate 10% ? Payment $160.95 ? Interest Paid n/a ? Principal n/a ? Balance $2,971.92 ? o Annual Interest Rate 10% Paid on month 2 Payment $160.95 Interest Paid $16.93 Principal $144.02 Balance $2,827.90 o Annual Interest Rate 10% 7 month 2 Payment $160.95 Interest Paid $24.77 Paid on Principal $136.18 Balance $2,835.74 o Annual Interest Rate 10% Paid on month 2 Payment $160.95 Interest Paid $24.77 Principal $160.95 Balance $2,835.74 Annual Interest Rate 10% month 2 Payment $160.95 Interest Paid $24.77 Paid on Principal $136.18 Balance $2,810.97

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