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A $5,000 demand loan was advanced on June 3. Fixed monthly payments of $1,000 were required on the first day of each month beginning July 1. Prepare the full repayment schedule for the loan. Assume that the interest rate remained at 8.75% for the life of the loan.
Contract
A legally binding agreement between two or more parties, outlining the terms and conditions of a particular arrangement or action.
Cloaca
Body opening that serves as the exit for digestive waste and urine; also functions in reproduction.
Reproduction
Processes by which organisms produce offspring.
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