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Mathematics, 17.04.2020 05:02, dontcare95
The interest is calculated each month on the unpaid balance using simple interest formula.
Ralph Phillips obtained a 12-mont, $1,500 loan at 12% His monthly payment is $133.20. For the first payment find:
A. Interest
B. The payment to principal
C. the new balance
Please list step by step
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Answers: 2
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The interest is calculated each month on the unpaid balance using simple interest formula.
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