Construct partial amortization schedule

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Reference no: EM131066378

A debt of $12,000 is to be amortized by equal payments at the end of each month for 5 years. Interest is charged at 24% compounded monthly.

a. Construct a partial amortization schedule to show the outstanding principal after the second payment.

b. What interest and principal is included in the 35th payment?

Reference no: EM131066378

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