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A loan of $400,000 at 6% compounded annually, will be repaid over 4 years with 4 identical at the end of year. a. Find the

A loan of $400,000 at 6% compounded annually, will be repaid over 4 years with 4 identical at the end of year.

a. Find the size of the yearly payment.

b. Fill out the ENTIRE Amortization Schedule for the loan

image text in transcribed

Interest paid. Payment Number Amount paid Principal repaid Outstanding Balance after payment 0 400,000.00 2 3

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