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This exercise is designed to be solved using technology such as calculators or computer spreadsheets. You borrow...

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Basic Math

This exercise is designed to be solved using technology such ascalculators or computer spreadsheets.

You borrow $18,000 with a term of four years at an APR of 8%. Makean amortization table. How much equity have you built up halfwaythrough the term? (Round your answer to two decimal places.)

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Since the payment is to be monthly we presume that interest is to be compounded at monthly intervals The formula for computing the loan balance B of a fixed    See Answer
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