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What is the ending balance of the amortized loan at the end

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Question - Construct an amortization schedule for a $1,000, 5% annual rate loan with 3 equal payments. The first payment will be made at the end of the 1st year. Find the required annual payments.

What is the ending balance of the amortized loan at the end of the third year?

Calculate the total amount of interests you should pay for the amortized loan in three years?

Reference no: EM133039993

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