Consider a loan which is being repaid by n equal annual payments of 1, the first due one year after the loan is taken out.

(a) Assuming « > 5, construct the first 5 rows of the amortization schedule.

(b) Assuming n > 20, construct the 20^^ row of the amortization schedule.

(c) Construct the last 3 rows of the amortization schedule

(assume n > 3).

AppendixLO1