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5) A $200,000 loan will be paid off with 3 the identical payments (that include interest and principal repaid) at the end of every year

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5) A $200,000 loan will be paid off with 3 the identical payments (that include interest and principal repaid) at the end of every year over 3 years. If the interest rate on the loan is 4% compounded quarterly determine: (5 marks total-CH 14) (a) The size of the payments every year (2) (b) Complete the entire amortization table for the loan (3) + Payment Amount Number paid Interest paid. Principal repaid Balance after payment 0 200,000.00 1 2 3

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