Develop a complete amortization table for a loanof $4500,

Chapter , Problem 4-120

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Develop a complete amortization table for a loanof $4500, to be paid back in 24 uniform monthlyinstallments, based on an interest rate of 6%.The amortization table must include the followingcolumn headings: made the firsttwo payments and then decidedto repaythe balance of the loan with the third payment. Thusshewillpaythethirdpaymentplusanadditionalsum.You are to calculate the amount of this addit-ional sum(a)based on the rule of 78s.(b)based on exact economic analysis methods.

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