Question: 1) A $20,000 loan is to be amortized by equal monthly payments for five years. The interest rate is 12% compounded monthly. A. Find the

1) A $20,000 loan is to be amortized by equal monthly payments for five years. The interest rate is 12% compounded monthly. A. Find the Monthly payments: B. How much interest paid in the first payment. C. How much interest will the debtor pay in total over the five-year period

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