Posted by **Julian** on Wednesday, October 5, 2011 at 10:28pm.

Consider an amortized loan of $10,000 ( with 10.0% interest compounded monthly) paid back over two yrs in equal, monthly installments. For each of the first two months, calculate three things: the interest paid for the month, the amound of the principal paid off and the balance at the end of the month.

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