Question: Determine the outstanding principal balance on the loan in Problem 12 after 20 payments have been made. In Problem 12, Determine the monthly payment for

Determine the outstanding principal balance on the loan in Problem 12 after 20 payments have been made.
In Problem 12, Determine the monthly payment for a sixty-month truck loan with an annual percentage rate of 11% and an initial principal of $17,000. How much interest is paid over the life of the loan?

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