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On January 1, Matthew borrows $6300 with a fixed interest rateon the loan of 10% and a loan term of 2 years. He will be makingmonthly payments of $290.71. How much of Matthew’s fifth loanpayment would be interest charged?(Round answers to 2decimal places, e.g. 52.75.)$44.46$42.41$46.49$48.51On January 1, Steven borrows $5700 with a fixed interest rate onthe loan of 10% and a loan term of 2 years. He will be makingmonthly payments of $263.03. How much of Steven’s fifth loanpayment would be principal?(Round answers to 2 decimalplaces, e.g. 52.75.)$222.80$217.33$219.14$220.96
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