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4. (4pts) Complete the following amortization schedule for a loan with a fixed interest rate. (Note that the payments are not level and there is
4. (4pts) Complete the following amortization schedule for a loan with a fixed interest rate. (Note that the payments are not level and there is no payment at the end of 2nd year, so Table 5.1 cannot be used.) (Hint: first you need to find out the fixed annual effective interest rate.) Year (since loan) 0 Outstanding loan balance Payment amount Interest paid Principal repaid 25,000 10,000 0 8,000 2,000 4
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