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You borrow a GPM of $50,000 with annual payments and 3- year term. The interest rate is 10% and the payment factors from years 1

You borrow a GPM of $50,000 with annual payments and 3- year term. The interest rate is 10% and the payment factors from years 1 to 3 are as follows: 50%, 50% and 100%

Questions: 1.What are the annual payments for years 1 to 3?

2.What is remaining balance at the end of year 1?

3.What are interest payment and principal payment for years 1 to 3?

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