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You borrow $300,000 to buy a house over a 30-year term. The loan is structured as an amortized loan with annual payments and an interest

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You borrow $300,000 to buy a house over a 30-year term. The loan is structured as an amortized loan with annual payments and an interest rate of 11%. Complete the cells in the amortization schedule, below. Interest in Principal Principal Owing at Year Payment (5) Payment ($) Repaid (5) End of Year ($) 1 2 Year Payment ($) Interest in Payment ($) Principal Repaid ($) Principal Owing at End of Year ($) (Round to the nearest cent.) 1

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