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Prepare an amortization schedule for a five-year loan of $73,000. The interest rate is 9 percent per year, and the loan calls for equal annual
Prepare an amortization schedule for a five-year loan of $73,000. The interest rate is 9 percent per year, and the loan calls for equal annual payments. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Leave no cells blank be certain to enter "O" wherever required.) Year Beginning Balance otal Payment Interest Payment Principal Payment Ending Balance 2 4 b. How much interest is paid in the third year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. How much total interest is paid over the life of the loan? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. Interest paid in third year c. Interest paid over the life of loan
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