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1. Create an amortization schedule for a $48,000 loan to be repaid in equal installments at the end of each of the next 3 years.
1. Create an amortization schedule for a $48,000 loan to be repaid in equal installments at the end of each of the next 3 years. The interest rate is 7.0% compounded annually. Include what % of each payment represents interest and what % represents principal for each of the 3 years. (4 points) 2. For a nominal rate of 6.50%, calculate the effective annual rates (EAR) for each of the following compounding periods: (4 points) Monthly Daily (assuming a 365 day year) 3. What's the future value of $10,300 after 5 years if the appropriate interest rate is 6%, compounded monthly? (2 points)
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