Question: please show work 1) The following loan is fully amortizing. The loan is for $12,000 at 5% interest to be repaid over three (3) years.

please show work

1) The following loan is fully amortizing. The loan is for $12,000 at 5% interest to be repaid over three (3) years. Amortize this loan on a monthly basis. Calculate the interest portion of the fourth (4 4th ) payment considering that an additional payment of $2,000 was made with the second payment. (Read this carefully)

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