Question: ACCT3402 SECTION A Instruction: Complete ALL questions from this section. Question 1 A-One Hundred-Thousand dollar ($100,000) loan obtained today is to be repaid in equal

ACCT3402 SECTION A Instruction: Complete ALL questions from this section. Question

ACCT3402 SECTION A Instruction: Complete ALL questions from this section. Question 1 A-One Hundred-Thousand dollar ($100,000) loan obtained today is to be repaid in equal annual amounts over the next five years starting at the end of this year. The annual interest rate is 8% compounded annually. A. What is the annual payment that will completely amortize the loan? marks) B. Prepare the amortization schedule. (10 marks) C. How much interest is paid over the life of the loan? (3 marks) What percentage of payment made at the end of year 4 is repayment of the loan

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