Solutions to Chapter 1

Time Loan balance Year-end interest due Year-end payment Amortization of loan 0 $1,000.00 $80.00 $301.92 $221.92 1 $778.08 $62.25 $301.92 $239.67 2 $538.41 $43.07 $301.92 $258.85 3 $279.56 … ................
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