Question: Prepare an amortization schedule for a one - year loan of $ 2 0 , 0 0 0 . The interest rate is 7 .

Prepare an amortization schedule for a one-year loan of $20,000. The interest rate is 7.5% APR,
and the loan calls for equal monthly payments.
How much interest is paid in the third month?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.
Prepare an amortization schedule for a one-year loan of $20,000. The

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