Question: DO NOT USE EXCEL A loan is amortized by level payments made at the end of each quarter, for 25 years. The monthly rate is

DO NOT USE EXCEL

DO NOT USE EXCEL A loan is amortized by level payments made

A loan is amortized by level payments made at the end of each quarter, for 25 years. The monthly rate is 1%. The principal in the 29th payment is 8370. Find the amount of interest in the 72nd payment

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