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2) A 40 year, $100,000 loan with effective annual interest i = 5% is paid by making payments of K at the end of each
2) A 40 year, $100,000 loan with effective annual interest i = 5% is paid by making payments of K at the end of each year for the first 25 years and payments of K - 300 at the end of each year for the next 15 years. Find K, and find the OB15 and OB30. Lastly, fill out the following amortization table for 3 years. t Payment Interest Principle Repaid Outstanding Balance 0 $100,000 1 2 3
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