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What is the interest portion of 70th payment

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Reference no: EM133118884

You borrowed $63,000 at a 4.8% annual interest rate. You will pay off the loan with monthly payments over the next 10 years.

a) How much is each of your monthly payments?

b) What is the interest portion of your 70th payment?

c) What is the principle portion of your 50th payment?

d) After 7 years, what will your outstanding balance be?

Please attach pictures of excel work

Reference no: EM133118884

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