(Interest-only loan) Your friend took a $50,000 loan. The loan is a 15-year, 5% interest-only loan (paying...

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(Interest-only loan) Your friend took a $50,000 loan. The loan is a 15-year, 5% “interest-only” loan (paying interest in the loan period and the principal in one installment at the end).

a. Show the loan amortization table.

b. What is the outstanding balance of the loan after 7 years?

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