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Prepare an amortization schedule for a three-year loan of $114,000. The interest rate is 11
percent per year, and the loan calls for equal annual payments. How much total interest is paid
over the life of the loan? Note: Leave no cells blank. Enter ' 0 ' where necessary. Do not round
intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.

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Prepare an amortization schedule for a threeyear loan of 1.pdf

  • 1. Prepare an amortization schedule for a three-year loan of $114,000. The interest rate is 11 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? Note: Leave no cells blank. Enter ' 0 ' where necessary. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.