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A Loan of $14 100

Question 12

Essay

A loan of $14 100.00 is amortized over 11 years by equal monthly payments at 5.4% compounded monthly. Construct an amortization schedule showing details of the first three payments, the fortieth payment, the last three payments, and totals.

Correct Answer:

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14100 = PMT blured image 14100 = PMT(99.36...

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