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(5 Points) Erwin Bromley is an entrepreneur running an incubator at the Durham-Raleigh-Charlotte Research Triangle area of North Carolina. He just tapped his bank for
(5 Points) Erwin Bromley is an entrepreneur running an incubator at the Durham-Raleigh-Charlotte Research Triangle area of North Carolina. He just tapped his bank for a 5-year, $800,000 loan. The loan is to be paid with 5 equal payments at the end of the year. The interest on the loan is 7%. Prepare an amortization schedule of the loan Answer Time 1 PMT I-PMT P-PMT Starting Balance 800,000 Remaining Balance N 3 3 4 5
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