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You borrowed $2,500 from the bank at a rate of 6% compounded quarterly. You will repay the loan back over 3 years with payments every

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You borrowed $2,500 from the bank at a rate of 6% compounded quarterly. You will repay the loan back over 3 years with payments every three months. Show the original principal balance and complete the first payment of the amortization schedule below. Round numbers to 2 places after the decimal Hint: If using the amortization table on your calculator, re-enter the rounded PMT amount Complete schedule with only positive numbers. 1/Y P/Y C/Y PMT FV N PV Payment Pmt # Interest Portion Principal Portion (entor on positive number) Principal Balance 0 1

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