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could you let me know these wrong Return to question 4. Problem 2-31 Amortizing loans 10 points A bank loan requires you to pay $86,000
could you let me know these wrong
Return to question 4. Problem 2-31 Amortizing loans 10 points A bank loan requires you to pay $86,000 at the end of each of the next eight years. The interest rate is 10%. a. What is the present value of these payments? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is complete and correct. Present value $ 458,803.65 b. Complete the following amortization table. (Negative amounts should be indicated by a minus sign. Round your answers to nearest whole dollar amount.) > Answer is complete but not entirely correct. Year Payment Interest (10%) Loan Red. Ending Balance 418,684 1 40,120 X $ 2 3 Beginning Balance $ 458,804 $ 418,684 374,552 326,008 272,608 213,869 149,256 4 86,000 X $ 86,000 X 86,000 86,000 X 86,000 86,000 > 86,000 X 86,000 45,880 X $ 41,868 X 37,455 32,601 X 27,261 X 21,387 X 14,926 x 7,818 44,132 X 48,545 53,399 X 58,739 X 64,613 X 71,074 X 374,552 326,008 272,608 213,869 149,256 78,182 5 6 7 8 78,182 78,182 XStep by Step Solution
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