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Consider a 4-year amortizing loan. You borrow $1,800 initially and repay it in four equal annual year-end payments. a. If the interest rate is 10%,

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Consider a 4-year amortizing loan. You borrow $1,800 initially and repay it in four equal annual year-end payments. a. If the interest rate is 10%, what is the annual payment? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is complete and correct. Annual payment $ 567.85 b. Prepare an amortization schedule. (Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "0" wherever required.) Answer is not complete. Time Loan Balance ($) Year-End Interest Due on Loan Balance ($) 0.00 X Total Year-End Payment ($) Amortization of Loan ($) 0 0.00 X 1 387.85 2 1,800.00 1,800.00 X 1,412.15 X 985.52 X 516 X 180.00 X 141.22 X 98.55 X 567.85 567.85 567.85 426.63 X 3 469.30 X 4 52 X

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