Question: Consider a 4-year amortizing loan. You borrow $229,000 initially, and repay it in four equal annual year-end payments. a. If the interest rate is 6.08%,

Consider a 4-year amortizing loan. You borrow $229,000 initially, and repay it in four equal annual year-end payments. a. If the interest rate is 6.08%, calculate the annual Round your answer to 2 decimal places.) (Do not round intermediate calculations. Annual payment b. Prepare an amortization schedule. (Leave no cells blank - be certain to enter"" wherever required. Do not round Intermediate calculations. Round your answers to 2 decimal places Time Loan Balance Year-End Interest Due on Balance Year-End Payment Amortization of Loan ANO C-1. What is the loan balance at the end of 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

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