Question: I need typed answer with explanation don't use chatgpt to answer give me a proper explanation I will thumb up. Problem 4: You borrow a

I need typed answer with explanation don't use chatgpt to answer give me a proper explanation I will thumb up.

Problem 4:

You borrow a GPM of $120,000 with annual payments and 30-year term. The interest rate is 10% and the payment factors from year 1 to year 30 are: 10%, 20%, 30%, 40%, 50%, 60%, 70%, 80%, 90%, 100%, ..., 100%.

Questions:

1. What are the annual payments for years 1 to 30?

2. What is remaining balance at the end of each year?

3. What are the interest payment and principal payment for years 1 to 30?

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