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Prepare the loan amortization schedule

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Reference no: EM132501003

Colin has just taken a loan at an annual rate of 12%. He plans to repay it over 6 years, paying $85 000 semi-annually.

a) How much did Colin borrow?

b) Prepare the loan amortization schedule

c) Compute the effective annual rate of the loan.

Reference no: EM132501003

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