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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

2. Loan amortization: The Johns Hopkington Hospital needs to borrow $5 million to purchase a magnetic resonance imaging (MRI) scanner. The interest rate for the loan is 6 percent. Principal and interest payments are equal debt service payments, made on an annual basis. The length of the loan is 5 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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