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An $80,000 loan is amortized by payments of $1950 at the end of every quarter at a rate of 9% compounded quarterly. 1. Construct a
An $80,000 loan is amortized by payments of $1950 at the end of every quarter at a rate of 9% compounded quarterly. 1. Construct a partial amortization schedule showing the last 2 payments. 2. Determine the total amount paid to settle the loan. Show work. 3. Determine the total principal repaid. 4. Determine the total amount of interest paid. Show work
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Financial Accounting The Impact On Decision Makers
Authors: Gary A Porter, Curtis L Norton
8th Edition
1111534861, 9781111534868
