Question: QUESTION 48 Construct an amortization schedule for a $1,500, 6% annual rate loan with 3 equal payments. The first payment will be made at the

QUESTION 48

  1. Construct an amortization schedule for a $1,500, 6% annual rate loan with 3 equal payments. The first payment will be made at the end of the 1st year. Find the required annual payment.

    $355.2

    $467.3

    $388.0

    $561.2

5 points

QUESTION 49

  1. Based on the information from Question 48, whats the ending balance of the amortized loan at the end of the 2nd year.

    $0

    $529.4

    $388.3

    $561.2

5 points

QUESTION 50

  1. Based on the information from Question 48 and 49, calculate the total amount of interests you should pay for the amortized loan in three years.

    $168.3

    $175.8

    $183.5

    $164.1

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