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Admiral Trust Company makes an amortized loan of $47,000, to be repaid by annual end-of-year payments of $4,675 for eighteen years. In order to replenish

Admiral Trust Company makes an amortized loan of $47,000, to be repaid by annual end-of-year payments of $4,675 for eighteen years. In order to replenish its capital, the company will make level annual payments into a sinking fund account earning 5% interest. (a) If the sinking fund account is held by a third party, what is Admiral Trust Companys yield rate assuming complete replacement of capital? (b) If the sinking fund account is held by Admiral Trust Company, what is its yield rate assuming complete replacement of capital?NO EXCEL OR ACTUARIAL CALCULATOR FORMULAS

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