Question: Consider a 4-year amortizing loan. You borrow $1,500 initially and repay it in four equal annual year-end payments. If the interest rate is 10%, what

Consider a 4-year amortizing loan. You borrow $1,500 initially and repay it in four equal annual year-end payments.

If the interest rate is 10%, what is the annual payment?

Note: Do not round intermediate calculations. Round your answer to 2 decimal places.

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 $1,500 initially and repay it in four equal annual year-end payments. a. If the interest rate is 10%, what is the annual payment? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. 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

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