How much interest will you earn over the life of the loan

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Reference no: EM131300088

You are lending your friend $25,000. She agrees to repay the loan in equal quarterly payments over a three-year period at an interest rate of 8% compounded quarterly. Using excel functions, answer the following:

a. Set up an amortization schedule for a $25,000 loan to be repaid in equal installments at the end of each quarter for the next 3 years.

b. How much interest will you earn over the life of the loan?

Reference no: EM131300088

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