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Prepare the first row of a loan amortization schedule

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Q1) Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $35,771 with an annual interest rate of 06.00%. The loan will be repaid over 29 years with monthly payments.

a) What is the Loan Payment?

b) What portion of the payment is interest?

c) What portion is principle?

d) What is the balance after the first payment?

Reference no: EM133121725

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