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Valley Produce received $ 5 0 , 0 0 0 in vendor financing at 7 . 8 % compounded semiannually for the purchase of harvesting
Valley Produce received $ in vendor financing at compounded semiannually for the purchase of harvesting machinery. Equal annual payments of $ will repay the debt in seven years, including $ in interest. Suppose the loan permits an additional prepayment of principal on any scheduled payment date. Prepare the amortization schedule that reflects a prepayment of $ with the second scheduled payment. How much interest is saved as a result of the prepayment? Do not round intermediate calculations. Round your answers to decimal places. Leave no cells blank be certain to enter wherever required.
Interest saved
$
tabletablePaymentnumbertableInterestportion $
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