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5.31 A loan of $1,000 is to be repaid with annual payments of $50, $100, $1,00 and P at the end of the first, second,
5.31 A loan of $1,000 is to be repaid with annual payments of $50, $100, $1,00
and P at the end of the first, second, third and fourth year. The interest rate is 10% per annum. Construct an amortization schedule for the loan and determine P.
Note: could you please show your work so that I can see how you calculated your answers?
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Multinational Business Finance
Authors: David K. Eiteman, Arthur I. Stonehill, Michael H. Moffett
11th Edition
0321357965, 978-0321357960
