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Amount of interest paid

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Suppose you have a 15-year loan for $355,000 with an APR of 3.75%.

Using your calculator or Excel, make a table showing the amount of interest paid, the amount of principal paid, and the ending balance for each of the first 3 months of the loan. Be sure to report only your Month 3 results. Round to the nearest cent and do not use commas.

Reference no: EM131082491

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