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Today, you borrowed $30,000 and have agreed to pay off the loan by making $2,000 quarterly payments. Assume the effective quarterly interest rate is 1.75%.

Today, you borrowed $30,000 and have agreed to pay off the loan by making $2,000 quarterly payments. Assume the effective quarterly interest rate is 1.75%. If you were preparing an amortization schedule, what would be the ending balance after your first payment (i.e. at the end of the first quarter)?

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