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Construct a partial amortization schedule

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Question - Tricana Corporation borrowed $74,000.00 at 9% compounded monthly for 10 years to buy a warehouse. Equal payments are made at the end of every month.

(a) Determine the size of the monthly payments.

(b) Compute the interest included in payment 29.

(c) Determine the principal repaid in payment period 12.

(d) Construct a partial amortization schedule showing details of the first three payments, the last three payments, and totals.

Reference no: EM132606356

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