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Joan borrowed $19,000 at 17% annual rate of intrest to be repaid over 3 years. The loan is amoritized into three equal, annual end-of-year payment

Joan borrowed $19,000 at 17% annual rate of intrest to be repaid over 3 years. The loan is amoritized into three equal, annual end-of-year payment

calculate end of year loan payment

prepare a loan amotitization schedule showning intrest and principal breakdown of each of the three loan payments

Explain why the interest portion of each payment decline with the passage of time

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