Use the computerized model in the File C09 to solve
Use the computerized model in the File C09 to solve this problem.
a. Set up an amortization schedule for a $30,000 loan to be repaid in equal installments at the end of each of the next 20 years at an interest rate of 10 percent. What is the annual payment?
b. Set up an amortization schedule for a $60,000 loan to be repaid in 20 equal annual installments at an interest rate of 10 percent. What is the annual payment?
c. Set up an amortization schedule for a $60,000 loan to be repaid in 20 equal annual installments at an interest rate of 20 percent. What is the annual payment?

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