Payment-interest and loan balance

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Reference no: EM13766438

With a 30 year 9% loan of $200,000, how much of your yearly payment would be interest and how much would be principal for the first 4 years? (complete the following table)

Payment Interest Principal Loan Balance

Year 1:---------------------------------------------------$198,540

Year 2: ---------------------------------------------------$196,948.60

Year 3:

Year 4:

Reference no: EM13766438

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