Amortization with Equal Payments Prepare an amortization schedule for a five-year loan of $71,500. The interest rate is 7 percent per year, and the loan calls for equal annual payments. How much interest is paid in the third year? How much total interest is paid over the life of the loan? I need it in financial calculator
Amortization with Equal Payments Prepare an amortization schedule for a five-year loan of $71,500. The interest rate is 7 percent per year, and the loan calls for equal annual payments. How much interest is paid in the third year? How much total interest is paid over the life of the loan? I need it in financial calculator
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 41P
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