Bank offers fixed rate-constant payment amortizing loan

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1. The local bank offers a fixed rate, constant payment amortizing loan of $100,000 with a 5.00% interest rate, 15-year amortization period and 5-year term. What is outstanding loan balance after 3 years

2. What is the present value of $10,000 paid at the end of each of the next 86 years if the interest rate is 11% per? year? Round to the nearest cent.

Reference no: EM131829589

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