Question: value: 20.00 points Consider a 4-year amortizing loan. You borrow $2,800 initially and repay it in four equal annual year-end payments a. If the interest

value: 20.00 points Consider a 4-year amortizing loan. You borrow $2,800 initially and repay it in four equal annual year-end payments a. If the interest rate is 8%, what is the annual payment? (Do not round intermediate calculations. Round your answer to 2 decimal places.) nual payment b. Prepare an amortization schedule. (Leave no cells blank - be certain to enter "O" wherever required. Do not round intermediate calculations. Round your answers to 2 decimal places.) Total Year-End Payment, $ Year-End Interest Due Amortization of , on Loan Balance, $ References eBook &Resources

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