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Calculate equal yearly loan payments

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Reference no: EM132615957

To expand its operation, Manila Pacific Inc. has applied to the International Bank for a 3 year, $350,000 loan. Prepare a loan amortization table assuming 12 percent rate of interest.

Required:

a. Calculate equal yearly loan payments.

b. prepare a loan amortization schedule showing the interest and principal break down of each of the three loan payments.

Reference no: EM132615957

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