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  3. suppose we have a 5-year, 9 percent, $5000 loan wa

Suppose we have a 5-year, 9 percent, $5000 loan was amortized in Approach 2, fixed...

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Accounting

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Suppose we have a 5-year, 9 percent, $5000 loan was amortized in Approach 2, fixed total payment every period. What's the ending balance after the first year? Interest Year Beginning Total Balance Payment Principal Paid Ending Balance Paid 1 $5000 $1285.46 $450 $835.46 ni 2 ... ... ... ... 4000.00 4550.00 5835.46 4164.54 4128.64

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