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Compute an amortization schedule for a $25000, 10 year annual amortization loan, paying 7.4%. Payments are to be made at the beginning of the year.
Compute an amortization schedule for a $25000, 10 year annual amortization loan, paying 7.4%. Payments are to be made at the beginning of the year. If instead the loan was originally structured with a $10000 balloon payment at the end of the tenth year, what would be each of the 10 annual payment?
a. $2700-$3000
b. > $3300
c. 2400-$2700
d. $2400
$3000-$3300
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