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Danny Joe borrows $24,000 from the bank at 6 percent annually compounded interest to be repaid in four equal annual installments. For one of the

Danny Joe borrows $24,000 from the bank at 6 percent annually compounded interest to be repaid in four equal annual installments.

For one of the above loans, make an amortization table for the entire period, which has the following columns:

Year

Beg. Bal.

Payment

Interest Part

Principal Part

End. Bal.

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