Question: On your work paper, construct the first three lines (payments 0, 1, and 2) of an amortization schedule for a $7,000 debt that is to

 On your work paper, construct the first three lines (payments 0,

On your work paper, construct the first three lines (payments 0, 1, and 2) of an amortization schedule for a $7,000 debt that is to be amortized in six equal monthly payments at 1.25% interest per month on the unpaid balance. (The columns heading should be: Payment Number, Payment, Interest, Unpaid Balance Reduction, Unpaid Balance.) Payment Number Payment Interest Unpaid Balance Reduction Unpaid Balane 0 $7,000.00 1 2

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