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Question - A bank makes a loan of $ 300,000 that will be settled in five equal annual payments beginning three years after it is granted. If the annual effective interest rate is 10% and in the grace period only interest generated at the end of each year is paid,
a) Determine the amount of payments in the grace period and in the amortization period?
b) Build the amortization table.
c) How much are the payments to amortize the loan if no interest is paid in the grace period?
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john and martha are planning to be married. both are professionals each with gross incomes of 100000 annually. they are
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