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Create an amortization schedule for a five-year loan of $63,000. Assume the interest rate is 8 percent per year, and the loan agreement calls for

Create an amortization schedule for a five-year loan of $63,000. Assume the interest rate is 8 percent per year, and the loan agreement calls for a principal reduction of 12,600 every year

Year 1

Begining Balance

Total Payment

Interest Payment Principal

Ending Payment

Year 2

Begining Balance

Total Payment

Interest Payment Principal

Ending Payment

Year 3

Begining Balance

Total Payment

Interest Payment Principal

Ending Payment

Year 4

Begining Balance

Total Payment

Interest Payment Principal

Ending Payment

Year 5

Begining Balance

Total Payment

Interest Payment Principal

Ending Payment

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