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Financial Math Plz help both questions. 1. (4pts) A loan of $5000 is being repaid with 5 payments including equal repayment of the principal at
Financial Math Plz help both questions.
1. (4pts) A loan of $5000 is being repaid with 5 payments including equal repayment of the principal at the end of each year. Interest at an annual effective rate of 10% is paid on the outstanding balance at the end of year. Immediately after the loan was made, the right of the loan was sold at a price that yields an annual effective rate of 5%. Find the price paid for the right of the loan. (Answer: $5670.52) 2. (5pts) Complete the following amortization schedule for a loan of 5,000 repaid with level payments at the end of each year over five years at 4% Year (since loan) 0 Outstanding loan balance 5,000 Payment aoInterest paid Principal repaid 2 4 0Step by Step Solution
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