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Prepare an amortization schedule for a three - year loan of $ 1 1 4 , 0 0 0 . The interest rate is 1

Prepare an amortization schedule for a three

-

year loan of $

114, 000 .

The interest rate is

11

percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan?

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