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To expand its operation, Manila Pacific Inc. has applied to the International Bank for a 3 year, $350,000 loan. Organize a loan amortization table assuming

To expand its operation, Manila Pacific Inc. has applied to the International Bank for a 3 year, $350,000 loan. Organize a loan amortization table assuming 12 percent rate of interest.Required:

a. Calculate equal yearly loan payments.

b. Organize a loan amortization schedule showing the interest and principal break down of each of the three loan payments.

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