$11$

A bank loan requires you to pay $$80,500$ at the end of each of the next eight years. The interest rate is $10\%.$

a$.$ What is the present value of these payments?

b$.$ Complete the following amortization table.

$1$ points

$\backslash$table$[[$eBook$],[$Print$],[$References$]]$

Complete this question by entering your answers in the tabs below.

Required A

Required B

What is the present value of these payments?

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

$11$

A bank loan requires you to pay $$80,500$ at the end of each of the next eight years. The interest rate is $10\%.$

a$.$ What is the present value of these payments?

b$.$ Complete the following amortization table.

$1$ points

Complete this question by entering your answers in the tabs below.

Required A

Requir$$ B

eBook

Print

References

Complete the following amortization table.

Note: Negative amounts should be indicated by a minus sign. Round intermediate calculations and final answers to the nearest whole dollar amount.

$\backslash$table$[[$Year$,\backslash$table$[[$Beginning$],[$Balance$]],$Payment,Interest $(10\%),$Loan Reduction,Ending Balance$],[1,,,,],[2,,,,,],[3,,,,,],[4,,,,,],[5,,,,,],[6,,,,,],[7,,,,,]]$

Present value