Question: Consider a 4-year amortizing loan. You borrow $442,000 initially, and repay it in four equal annual year-end payments. a. If the interest rate is 9.10%,

Consider a 4-year amortizing loan. You borrow $442,000 initially, and repay it in four equal annual year-end payments. a. If the interest rate is 9.10%, 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 "0" 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 0 1 2 3 4 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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