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Determine the total amount paid to settle the loan

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Reference no: EM133150038

Question - An $80,000 loan is amortized by payments of $1950 at the end of every quarter at a rate of 9% compounded quarterly.

1. Construct a partial amortization schedule showing the last 2 payments.

2. Determine the total amount paid to settle the loan.

3. Determine the total principal repaid.

4. Determine the total amount of interest paid.

Reference no: EM133150038

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