Question: Will thumbs up! thank you for the help! 1. value: 1.25 points Amortizing Loan Consider a 4-year amortizing loan. You borrow $120,000 initially, and repay

Will thumbs up! thank you for the help!

1. value: 1.25 points Amortizing Loan Consider a 4-year amortizing loan. You borrow $120,000 initially, and repay it in four equal annual year-end payments. a. If the interest rate is 2.80%, calculate the annual payment. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Annual payment S b. Prepare an amortization schedule. (Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations. Round your answers to 2 decimal places.) Time Loan Balance S Year-End Interest Due on Balance $ Year-End Payment Amortization of Loan 0 1 2 3 4 C-1. What is the loan balance at the end of year 1? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Loan balance c-2. Is it the present value of the remaining loan payments

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