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(I need typed answer please) 8. The Clark Co. is borrowing $50,000 for three years at an APR of 9 percent. The principal is to
(I need typed answer please)
8. The Clark Co. is borrowing $50,000 for three years at an APR of 9 percent. The principal is to be repaid in equal annual payments over the life of the loan with interest paid annually (Amortization Loan). Payments will be made at the end of each year. Complete the cells marked with "?" in the following table. (15 pts) Year Beginning Interest Paid Total Annuity Principal Paid Ending Balance Balance Payment 1 $50,000 ? $4,500 ? $33,333.33 2 3 ? ? $1,500 $0.00 Totals ? 2 3 2Step by Step Solution
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