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What is the outstanding principal after the 12 payment

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Reference no: EM131335544

A debt of $25,000 is to be amortized by making payments of $1500 atthe end of each month. The interest rate is 12% compounded monthly.

a. What is the outstanding principal after the 12th payment?

b. What is the size of the final payment?

Reference no: EM131335544

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