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Prepare a loan amortization schedule showing the interest

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Reference no: EM132962974

To start his own fast food restaurant, Ashraful borrowed 475000 taka at a 7% annual rate of interest to be repaid over 3 years. The loan is amortized into three equal, annual, end of year payments.

Problem a. Calculate the annual end of year loan repayment.

Problem b. Prepare a loan amortization schedule showing the interest and principal break down of each of the three loan repayments.

Reference no: EM132962974

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