Suppose you borrow

$25,000

. The interest rate is

7%

, and it requires 4 equal end-of-year payments. Set up an amortization schedule that shows the annual payments, interest payments, principal repayments, and beginning and ending loan balances.\ \\\\table[[Original amount of mortgage:,

$25,0

,,],[Term to maturity:,,,,],[Interest rate:,,,,,],[,,,,],[Annual payment (use PMT function):],[,Beginning,,,,Ending],[Year,Balance,Payment,Interest,Principal,Balance]]

4. Suppose you borrow $25,000. The interest rate is 7%, and it requires 4 equal end-of-year payments. Set up an amortization schedule that shows the annual payments, interest payments, principal repayments, and beginning and ending loan balances. Original amount of mortgage: Term to maturity: Interest rate: Annual payment (use PMT function): \begin{tabular}{c|c|c|c|c|c} & & & & \\ \hline Year & Beginning & & & Ending \\ \hline & Balance & Payment & Interest & Principal & Balance \\ \hline \end{tabular}