On March 15 , Julio borrowed $1,070.00 from Sheridan Credit Union at 7.5% per annum...
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Accounting
On March 15 , Julio borrowed $1,070.00 from Sheridan Credit Union at 7.5% per annum calculated on the daily balance. He gave the credit union six cheques for $160.00 dated the 15 th of each of the next six months starting April 15 and a cheque dated October 15 for the remaining balance to cover payment of interest and repayment of principal. Construct a complete repayment schedule for the loan including totals for Amount Paid, Interest Paid, and Principal Repaid. Complete the repayment schedule below. (Round to the nearest cent as needed.)
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