Question: Create an amortization schedule for a $20,000 loan at 4% interest per year, with monthly payments over a 5-year period. How much of the third

Create an amortization schedule for a $20,000 loan at 4% interest per year, with monthly payments over a 5-year period. How much of the third month’s payment will be used to reduce the principal balance? Enter answer to the nearest cent, including decimal pint and 2 decimal places.

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