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MODEL 6:LOAN AMOTIZATION TABLE FOR CHANGING INTEREST RATE The Problem Create a model to produce an amortization table for a variable rate loan for which

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MODEL 6:LOAN AMOTIZATION TABLE FOR CHANGING INTEREST RATE The Problem Create a model to produce an amortization table for a variable rate loan for which the interest rate can change in two steps over its life, that is, the loan life is broken down into three interest rate periods with different interest rates specified for the three periods. The loan is to be repaid in equal annual instalments over its life and the first payment is to be made at the end of the first year. The user will provide the lengths of the three interest rate periods (in years) and the interest rates for each of them. The model will have to calculate the appropriate equal annual payment

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