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Assume the following:

Payment #1 totals $1,600 ($1,200 principal and $400 interest expense);

Payment #2 totals $1,600 ($1,300 principal and $300 interest expense);

and the remaining principal balance before these two payments is $50,000.

 

If the amortization schedule’s “Remaining Principal Balance” column prior to these payments amounts to $50,000, what is the balance in the column after these payments?

    • 10 years ago
    • 10
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