Question: James Sangster will pay $120,000 a year for a five year loan that they borrowed from Regency Corporation at a rate of 28%. Questions

James Sangster will pay $120,000 a year for a five year loan

James Sangster will pay $120,000 a year for a five year loan that they borrowed from Regency Corporation at a rate of 28%. Questions A. How much will did James Sangster borrow from the Regency Corporation? (3 marks) B. Prepare the Amortization schedule for the loan. (15 marks) C. Calculate the total interest paid over the life of the loan. (2 marks)

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