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The following loan is fully amortizing . The loan is for $ 10,000 at 3.0 % interest to be repaid over three ( 3 )

The following loan is fully amortizing . The loan is for $ 10,000 at 3.0 % interest to be repaid over three ( 3 ) years . Amortize this loan on a monthly basis . Calculate the interest portion of the fourth ( 4th ) payment considering that an additional payment of $ 2,000 was made with the third payment . ( Read this carefully )

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