9. FINDING THE REQUIRED INTEREST RATE Your parents will retire in 19 years. They currently have $350,000 saved, and they think they will need $800,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? AMORTIZATION SCHEDULE FOR A 5-yr NOTE ON PPE A firm takes out a 5-year loan to finance the expansion of its office space for its plant in Decatur, AL. The company borrows $200,000 for 5 years at an 8% rate of interest. Complete the amortization schedule for those five years (start with the interest at 8% on the $200,000 for year one and amortize through year five-you should end up at zero for the ending balance). What is the interest paid in year 3? What is the principal payment in year 2? Year Begin Payment Interest Repay Principal End