Question: 2/6 - 100% + Math 1330 Exam 3 Make-up Name: Show all work! A correct answer with no work is worth 1 point. Make sure

2/6 - 100% + Math 1330 Exam 3 Make-up Name: Show all work! A correct answer with no work is worth 1 point. Make sure to state the formula you use get partial credit. Use 4 decimal places in your answers. For problems 6 - 8, use the following table. Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.) $90,000 for 3 years at 7% compounded annually Period Payment Interest Balance Reduction Unpaid Balance $90,000 $6,300.00 $27,994.65 $62,005.35 $4,340.37 $29,954.28 $32,051.07 $2,243.58 $0.00 6. What is the payment? a. $34,294.65 b. $27,994.65 $108,900.00 d. $110,253.87 e. None of these 7. From the table, what is the total interest? a. $102,884 b. $12,883.95 c. $90,000 d. $184,056.4 e. None of these 8. What is the last entry in Balance Reduction? a. $34,294.65 b. $2,243.58 C. $32,051.07 d. $0.00 e. None of these O

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