Prepare an amortization schedule for a three-year loan of $114,000. The interest rate is 11 percent...

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Prepare an amortization schedule for a three-year loan of $114,000. The interest rate is 11 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? (Leave no cells blank. Enter '0' where necessary. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Year 1 2 3 Beginning Balance $114000 Total Payment Total interest Interest Payment Principal Payment Ending Balance Prepare an amortization schedule for a three-year loan of $114,000. The interest rate is 11 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? (Leave no cells blank. Enter '0' where necessary. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Year 1 2 3 Beginning Balance $114000 Total Payment Total interest Interest Payment Principal Payment Ending Balance

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To prepare an amortization schedule for a threeyear loan of 114000 with an 11 interest rate per year and equal annual payments we need to calculate the total interest paid over the life of the loan Le... View the full answer