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2 . Loan amortization: The Johns Hopkington Hospital needs to borrow $ 5 million to purchase a magnetic resonance imaging ( MRI ) scanner. The
Loan amortization: The Johns Hopkington Hospital needs to borrow $ million to purchase a magnetic resonance imaging MRI scanner. The interest rate for the loan is percent. Principal and interest payments are equal debt service payments, made on an annual basis. The length of the loan is years. The CFO of Johns Hopkington wants to develop a loan amortization schedule for this debt borrowing for tomorrow mornings meeting. Prepare such a schedule.
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