Prepare an amortization schedule for a five-year loan of $42,000. The interest rate is 8 percent per
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Prepare an amortization schedule for a five-year loan of $42,000. The interest rate is 8 percent per year, and the loan calls for equal annual payments. How much interest is paid in the third year? How much total interest is paid over the life of the loan?
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Given data Loan amount 42000 Interest rate 8 Loan term 5 Loan payment 1051917 Ye...View the full answer
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Related Book For 
Fundamentals of corporate finance
ISBN: 978-0073382395
9th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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