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Name Loan Total Payment APR(%) Period Rate Number of periods Total Interest
A-C $10,000.00 $200.00 8
D-F $15,000.00 $300.00 8
G-L $20,000.00 $350.00 8
M-R $25,000.00 $400.00 8
S-Z $30,000.00 $500.00 8
Questions
Choose a loan amount according to your last (M-R)
Calculate the period of rate assuming monthly compounding
Do the amortization schedule
What is the life of your loan
What is the total interest payment over the life of the loan
Note: In answering the questions, just fill out the table above. Have the above table filled out.
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