Question: Consider a 4-year amortizing loan. You borrow $2.100 initially, and repay it in four equal annual year-end payments. a. If the interest rate is 10%,

Consider a 4-year amortizing loan. You borrow $2.100 initially, and repay it in four equal annual year-end payments. a. If the interest rate is 10%, 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 "O" wherever required. Do not round intermediate calculations. Round your answers to 2 decimal places.) Loan Balance Year-End Interest Due on Balance Year-End Payment Amortization of Loan Time c-1. What is the loan balance after 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? O No O Yes

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