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How much is the total interest payment for the five months

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If you take out a 15-year loan in the amount of $370,000 at 7 percent rate annually. The loan is to be paid off by equal monthly installments over 15 years. Draw an amortization table showing the beginning balance, total payment, principle repayment, interest payment and ending balance for each month. How much is the total Interest payment for the five months? (show only five months on the table).

Reference no: EM132142212

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