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A bank loan requires you to pay $70,500 at the end of each of the next eight years. The interest rate is 10% a. What

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A bank loan requires you to pay $70,500 at the end of each of the next eight years. The interest rate is 10% a. What is the present value of these payments? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is complete and correct. Present value $ 376,112.30 b. Complete the following amortization table. (Negative amounts should be indicated by a minus sign. Round your answers to nearest whole dollar amount.) Answer is not complete. Year Interest (10%) Loan Rod. 1 $ 37,611 s 32,889 $ 2 3 Beginning Balance Payment s 376,112$ 70,500 343.224 307,046 267 250 223,476 175,323 122,355 64,091 Ending Balance 343,224 307,046 267,250 223,476 175,323 122,355 64,091 5 6 7 B

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