Question: Emphasis Heading 1 Normal Strong Subtitle Tit PROBLEMS (6.0 Points Each) I 1) The following loan is fully amortizing. The loan is for $12,000 at

Emphasis Heading 1 Normal Strong Subtitle Tit PROBLEMS (6.0 Points Each) I 1) The following loan is fully amortizing. The loan is for $12,000 at 5.0% interest to be repaid over three (3) years. Amortize this loan on a monthly basis. Calculate the interest portion of the fourth (4th) payment considering that one additional payment of $2,000 was made with the second payment. (Read this carefully). Emphasis Heading 1 Normal Strong Subtitle Tit PROBLEMS (6.0 Points Each) I 1) The following loan is fully amortizing. The loan is for $12,000 at 5.0% interest to be repaid over three (3) years. Amortize this loan on a monthly basis. Calculate the interest portion of the fourth (4th) payment considering that one additional payment of $2,000 was made with the second payment. (Read this carefully)

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