What are equal annual payments need to fully amortize loan

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Reference no: EM131547724

A 5 year $100,000.00 term loan has an interest rate of 7% on a declining balance. (1) What are the equal annual payments need to fully amortize the loan? (2) Construct an Amortization schedule showing the annual payment, interest payment, principle payment and loan balance each year.

Reference no: EM131547724

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