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Draw an amortization table for the following loan of R160 000 for 4 years where the interest rate is 10% per annum compounded annually. What

Draw an amortization table for the following loan of R160 000 for 4 years where the interest rate is 10% per annum compounded annually.

  1. What is the interest paid in the first 2 years
  2. What is the percentage of the loan that has been paid after 3 years
  3. What is the balance at year 3
  4. What is the payment if the compounding was monthly instead of annually

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