Question: Prepare the first row of a loan amortization schedule based on the following information. The loan amount is $38,580.00 with the annual interest rate of

Prepare the first row of a loan amortization schedule based on the following information. The loan amount is $38,580.00 with the annual interest rate of 5.31%. The loan will be repaid over 5.0 years with monthly payments.

a) What is the loan payment?

b)Interest portion?

c) principle Portion

d) Loan balance after first monthly payment?

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