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4. You borrowed $100,000 at 4% annual interest rate that you must repay over 5 years. The loan is amortized into five-equal end-of-year payments. (1)

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4. You borrowed $100,000 at 4% annual interest rate that you must repay over 5 years. The loan is amortized into five-equal end-of-year payments. (1) Calculate annual payment amount (2) Prepare a loan amortization schedule (3) If you make equal monthly payment for 60 months, calculate monthly payment amount and prepare a monthly loan amortization schedule

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