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For the Loan Described, Calculate the Monthly Payment and the Portions

Question 109

Essay

For the loan described, calculate the monthly payment and the portions of the payments that go to principal and tointerest during the first 3 months. Use a table.
-Calculate the monthly payment and the portions of the payments that go to the principal
and to interest during the first 3 months for a student loan of $21,581 with a fixed APR of
7.0% for 15 years.

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