Prepare a loan amortization schedule for bank

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Reference no: EM13811688

Recently you bought a new condominium for $1,600,000, after paying 20% down-payment, you have decided to loan the remainder from a bank.

Bank A offers 25 years at 12%, payable annually,

Bank B offers 20 years at 4.88%, payable monthly

a) prepare a loan amortization schedule for bank A

b) prepare a loan amortization schedule for bank B

c) which bank would you choose and why?

Reference no: EM13811688

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