$2-2$

You borrow $$60,000$ at an annual interest rate of $12\%.$ You will pay the loan back in two equal payments at the end of year $3$ and year $6.$

a$.$ Calculate the amount to be paid each year using the factor tables.

b$.$ Draw the fully labeled cash flow diagram.

c$.$ Complete the following table:

$\backslash$table$[[$Year$,\backslash$table$[[$BOY$],[$Balance$]],\backslash$table$[[$Interest$],[$amount$]],\backslash$table$[[$Total$],[($BOY$+$ Interest$)]],\backslash$table$[[$EOY$],[$Payment$]],\backslash$table$[[$EOY$],[$Balance$]]],[0,,,,,],[1,,,,,],[2,,,,,],[3,,,,,],[4,,,,,],[5,,,,,],[6,,,,,]]$