Vincent Pancozzi borrowed $750 on a one-year simple interest loan at 17% interest. The monthly payments were $63.57. Find the amount of interest, amount applied to the principal, and the new balance for the first monthly payment.

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Step-by-step explanation:

Vincent Pancozzi borrowed $750 on a one-year simple interest loan at 17% interest. The monthly payments were $63.57. Find the amount of interest, amount applied to the principal, and the new balance for the first monthly payment.

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