Question: use Table 3.2 to help structure an amortization schedule. please show work on paper. An amortized loan has 10 annual payments at the end of

use Table 3.2 to help structure an amortization schedule. please show work on paper.

An amortized loan has 10 annual payments at the end of each year starting one year from now. The first 5 payments are $1000 each and the final 5 payments are $500 each. Interest is at an effective annual rate of 10%. Find each of the following: (i) the initial loan amount (ii) the outstanding balance just after the 3rd payment (iii) the interest and principal in the 4th payment (iv) the outstanding balance just after the 8th payment. Table 3.2 illustrates the entries in an amortization table in a general way. TABLE 3.2
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