1. A couple takes out an amortized loan for $10,000 at 6.125% interest with monthly payments...
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1. A couple takes out an amortized loan for $10,000 at 6.125% interest with monthly payments for five years. Construct an amortization schedule, with columns for payment number, principal portion, interest portion, total payment, and current balance, for the first two payments. 1. A couple takes out an amortized loan for $10,000 at 6.125% interest with monthly payments for five years. Construct an amortization schedule, with columns for payment number, principal portion, interest portion, total payment, and current balance, for the first two payments.
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Solution Beginning balance Interest Principal 1 1000000 5104 14287 985713 2 985713 5031 14360 971353 ... View the full answer
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