Question: Consider a 4-year amortizing loan. You borrow $469,000 initially, and repay it in four equal annual year-end payments. a. If the interest rate is 7.6%,

Consider a 4-year amortizing loan. You borrow $469,000 initially, and repay

Consider a 4-year amortizing loan. You borrow $469,000 initially, and repay it in four equal annual year-end payments.

a.	If the interest rate is 7.6%, 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.)

Time	Loan Balance	Year-End Interest Due on Balance	Year-End Payment	Amortization of Loan
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?

a. If the interest rate is 7.6%, calculate the annual payment. (Do not round intermediate calculations. Round your answer to 2 decimal places.) 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.) -1. What is the loan balance at the end of year 1? (Do not round intermediate calculations. Round your answer to 2 decimal places.) -2. Is it the present value of the remaining loan payments

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