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You took a 5 year, $100,000 loan. The loan has equal principal payments. The loan carries a 6% annual interest rate and is paid back

You took a 5 year, $100,000 loan. The loan has equal principal payments. The loan carries a 6% annual interest rate and is paid back in annual payments.

1. What is the outstanding balance of the loan after 3 years?

2. Compute an amortization table for the loan.

3. What is the interest payment on the fourth installment?

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