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Cloverdale Nurseries Obtained a $60,000 Loan at 7

Question 12

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Cloverdale Nurseries obtained a $60,000 loan at 7.5% compounded monthly to build an additional greenhouse. Monthly payments were calculated to amortize the loan over six years. Construct a partial amortization schedule showing details of the first two payments, Payments 43 and 44, and the last two payments.

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