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To start his own business, David borrowed $185000 at a 7% annual rate of interest to be repaid over 3 years. The loan is amortized
To start his own business, David borrowed $185000 at a 7% annual rate of interest to be repaid over 3 years. The loan is amortized into three equal, annual, end-of-year payments. (A) Prepare a loan amortization schedule showing the interest and principal breakdown of each of the three loan repayments.
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