Consider a $50,000 loan to be repaid in equal installments atthe end of each of the next 5 years. The interest rate is 10%.

1. Set up an amortization schedule for the loan. Round youranswers to the nearest cent. Enter \"0\" if required

   Year	Payment	Repayment Interest	Repayment of Principal	Balance
   1	$	$	$	$
   2	$	$	$	$
   3	$	$	$	$
   4	$	$	$	$
   5	$	$	$	$
   Total	$	$	$

   
   
2. How large must each annual payment be if the loan is for$100,000? Assume that the interest rate remains at 10% and that theloan is still paid off over 5 years. Round your answer to thenearest cent.
   $
3. How large must each payment be if the loan is for $100,000, theinterest rate is 10%, and the loan is paid off in equalinstallments at the end of each of the next 10 years? This loan isfor the same amount as the loan in part b, but the payments arespread out over twice as many periods. Round your answer to thenearest cent.
   $

Answer rating: 100% (QA)

YearPaymentRepayment InterestRepayment of Princi... View the full answer