To renovate the space, restaurant plans to borrow $325,000 over the next three years, with an interest rate of 12% per year on the unpaid balance. The repayment schedule calls for five equal annual payments the first of which occurring at the end of year one. Make amortization table based on this information.

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To create an amortization table for a loan of 325000 with a 12 annual interest rate paid off over th... View the full answer