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You qualify for a $9.400 loan from the Sunland Student Loans Program to help finance your education. Once you graduate, you start repaying this note
You qualify for a $9.400 loan from the Sunland Student Loans Program to help finance your education. Once you graduate, you start repaying this note payable at an interest rate of 4.8%. The monthly cash payment is $98.79, principal and interest, for 120 payments (10 years). Prepare an instalment payment schedule for the first four payments. (Round answers to 2 decimal places, eg. 52.75.) Monthly Interest Period Issue Date Cash Payment Interest Expense Reduction of Procipal Principal Balance $ 1 2 3 4
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