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Amortization Schedule Consider a $25,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate
Amortization Schedule Consider a $25,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 12%. a. Set up an amortization schedule for the loan. Do not round intermediate calculations. Round your answers to the nearest cent. If your answer is zero, enter " 0 ". b. How large must each annual payment be if the loan is for $50,000 ? Assume that the interest rate remains at 12% and that paid off over 5 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ c. How large must each payment be if the loan is for $50,000, the interest rate is 12%, and the loan is paid off in equal installments at the end of each of the next 10 years? This loan is for the same amount as the loan in part b, but the payments are spread out over twice as many periods. Do not round intermediate calculations. Round your answer to the nearest cent
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