How much total interest is paid over the life of the loan

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Prepare an amortization schedule for a five-year loan of $60,000. The interest rate is 9 percent per year, and the loan calls for equal annual payments.

How much interest is paid in the third year?

The interest rate is 9 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan?

Reference no: EM13334673

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