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Loan amortixation and capital recovery Ian loaned his friend $ 4 5 , 0 0 0 to start a new business. He considers this loan
Loan amortixation and capital recovery
Ian loaned his friend $ to start a new business. He considers this loan to be an investment, and therefore requires his friend to pay him an interest rate of on the loan. He also expects his friend to pay back the loan over the next four years by making annual payments at the end of each year: lan texted and asked that you help him calculate the annual payments that he should expect to receive so that he can recover his initial investment and earn the agreedupon on his investment?
Calculate the annual payment and complete the following capital recovery schedule:
tableYearBeginning Amount,Payment,Interest Paid,Principal Paid,Ending Balance$grad,grad,,Egrad,,grad,,grad,,$
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