Question: Consider a 4 - year amortizing loan. You borrow $ 1 , 3 0 0 initially and repay it in four equal annual year -

Consider a 4-year amortizing loan. You borrow $1,300 initially and repay it in four equal annual year-end payments.
a. If the interest rate is 8%, what is the annual payment?
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
Annual payment
b. Prepare an amortization schedule.
Note: Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no cells blank - be certain to
enter "0" wherever required.
Consider a 4-year amortizing loan. You borrow $1,300 initially and repay

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