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Amortizing Loan Consider a 4 - year amortizing loan. You borrow $ 4 6 4 , 0 0 0 initially, and repay it in four
Amortizing Loan
Consider a year amortizing loan. You borrow $ initially, and repay it in four
equal annual yearend payments.
a If the interest rate is calculate the annual payment. Do not round
intermediate calculations. Round your answer to decimal places.
Annual payment
b Prepare an amortization schedule. Leave no cells blank be certain to enter
wherever required. Do not round intermediate calculations. Round your answers
to decimal places.
c What is the loan balance at the end of year Do not round intermediate
calculations. Round your answer to decimal places.
What is the present value of the remaining loan payments?
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