1a) 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 $355 8 $367 2 $388 0 $390 7 1b) Based on the information from Question 33, whats the ending balance of the amortized loan at the end of the first year $0 $349 7 $388 3 $682 8 Thanks in advanced

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Question: 1a) 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

1a)

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.

		$355.8
		$367.2
		$388.0
		$390.7

1b)

Based on the information from Question 33, whats the ending balance of the amortized loan at the end of the first year?

		$0
		$349.7
		$388.3
		$682.8

Thanks in advanced

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