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Suppose that Margaret is given another choice: increasing her loan to $1,500 but at 10% interest and she can spread the payments over 2 years. If the method is still the rule of 78, what will be

(a) her monthly payment and

(b) the breakdown between interest and principal for (1) the 1st payment, (2) the 10th payment, and (3) for the 23rd payment?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92061947

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