Prepare the first row of loan amortization schedule

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Reference no: EM132014651

Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $33,845 with an annual interest rate of 02.00%. The loan will be repaid over 13 years with monthly payments.

a) What is the Loan Payment?

b) What portion of this payment is Interest?

c) What portion of this payment is Principal?

d) What is the Loan balance after first monthly payment?

Reference no: EM132014651

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