Question: Consider a 4-year amortizing loan. You borrow $200,000 initially and repay it in four equal annual year-end payments. a. If the interest rate is 3%,

Consider a 4-year amortizing loan. You borrow $200,000 initially and repay it in four equal annual year-end payments. a. If the interest rate is 3%, what is the annual payment? (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. Report the whole repayment planning table (including beginning loan balance, interest payment, amortization payment and ending loan balance).

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