Question: Compute an amortization schedule for a $19600, 10 year annual amortization loan, paying 9.8%. Payments are to be made at the beginning of the year.

Compute an amortization schedule for a $19600, 10 year annual amortization loan, paying 9.8%. Payments are to be made at the beginning of the year. If you paid only $2600 in the nineth year, and the loan is restructured at a 8% rate so that it still amortizes by the 10th year, what will your remaining one payments be?

Group of answer choices

$3000-$3500

$2000-$2500

$2500-$3000

<$2000

> $3500

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