Question: Find the amount applied to principle for the third month of a 4-year loan of $16,300 which charges 3.7 percent compounded monthly with monthly payments.

Find the amount applied to principle for the third month of

Find the amount applied to principle for the third month of a 4-year loan of $16,300 which charges 3.7 percent compounded monthly with monthly payments. The amount applied to principle for the third month is (Round to the nearest cent.)

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