An amount of $290,000 is borrowed for a period of 25 years at an interest rate of 4%.

An amount of $290,000 is borrowed for a period of 25 years at an interest rate of 4%. The amortization schedule for this loan is below.

Payments of $1,530.73 are made monthly. Payment #12345Payment1,530.731,530.731,530.73……

Interest966.67964.79962.90……Debt Payment564.06565.94567.83……Balance289,435.94288,870.00288,302.17x…

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