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Consider the following loan. Complete parts​ (a)-(c) below.
An individual borrowed ​$71 comma 000 at an APR of 3​%, which will be paid off with monthly payments of ​$426 for 18 years.
a. Identify the amount​ borrowed, the annual interest​ rate, the number of payments per​ year, the loan​ term, and the payment amount.
b. How many total payments does the loan​ require? What is the total amount paid over the full term of the​ loan?
c. Of the total amount​ paid, what percentage is paid toward the principal and what percentage is paid for​ interest?

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