Question: Submission file format: Word or excel document, with all the answers, clearly identifying all steps, results and including comments when requested Exercise 5 Assume that

  • Submission file format: Word or excel document, with all the answers, clearly identifying all steps, results and including comments when requested

  1. Exercise 5

    Assume that the borrower acquired a 10 year , $180,000 loan from a bank. He will repay the loan with 10 equal payments of $26,82531 at the end of each year. The banks required interest rate is an annual rate of 8%. Please prepare the amortization table. (30 points)

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