Question: Amortizing Loan Consider a 4-year amortizing loan. You borrow $452,000 initially, and repay it in four equal annual year-end payments. a. If the interest rate

Amortizing Loan Consider a 4-year amortizing loan. You borrow $452,000 initially,

Amortizing Loan Consider a 4-year amortizing loan. You borrow $452,000 initially, and repay it in four equal annual year-end payments. a. If the interest rate is 6.46%, calculate the annual payment. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Annual payment $ b. Prepare an amortization schedule. (Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations. Round your answers to 2 decimal places.) Loan Balance Time 0 Year-End Interest Due on Balance $ Year-End Payment Amortization of Loan $ $ 1 2 3 4 C-1. What is the loan balance at the end of year 1? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Loan balance $ C-2. Is it the present value of the remaining loan payments

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