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2. Powdunck Bank has offered you a $30,000 four-year amortizing loan at 3.75% per year. You will receive the loan on Dec 31, 2020 and

2. Powdunck Bank has offered you a $30,000 four-year amortizing loan at 3.75% per year. You will receive the loan on Dec 31, 2020 and make annual payments each year. The first payment will be made on Dec. 31, 2021 and, the fourth and final payment will be made on Dec. 31, 2024. What is you annual loan payment? 3. Complete the amortization table for the loan in Problem 2, shown below: Interest Portion Principal Portion Remaining Balance Date Payment 12/31/20 30,000 12/31/21 12/31/22 12/31/23

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