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Compute the unpaid balance after 5 years

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Reference no: EM131172658

Consider a $21, 281.27loan for 7 years at 8% interest compounded quarterly and a payment of $1000 per quarter-year.

(A) Compute the unpaid balance after 5 years.

(B) How much interest is paid during the fifth year?

(C) How much principal is repaid in the fi.rst payment?(D) What is the total amount of interest paid on the loan?

Reference no: EM131172658

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