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Your monthly payments are due on the 4th of each month, starting October 4. The lender receives your first monthly payment ($203.75) on October 2.

Your monthly payments are due on the 4th of each month, starting October 4. The lender receives your first monthly payment ($203.75) on October 2. For your second monthly payment, you pay $300; the lender receives the payment on November 5.

Calculate interest, principal, and remaining balance for each payment using the U.S. Rule.

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