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Compute an amortization schedule for a $19600, 10 year annual amortization loan, paying 9.8%. Payments are to be made at the beginning of the year.
Compute an amortization schedule for a $19600, 10 year annual amortization loan, paying 9.8%. Payments are to be made at the beginning of the year. If you paid only $2600 in the nineth year, and the loan is restructured at a 8% rate so that it still amortizes by the 10th year, what will your remaining one payments be?
Group of answer choices
$3000-$3500
$2000-$2500
$2500-$3000
<$2000
> $3500
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