Amortization with equal payments- prepare an amortization, Financial Management

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Amortization with equal payments- prepare an amortization

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Amortization with Equal Payments- Prepare an amortization schedule for a five-year loan of $67,500. The interest rate is 7 percent per year, and the loan calls for equal annual payments. How much interest paid in the third year? How much total interest is paid over the life of the loan?

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Financial Management: Amortization with equal payments- prepare an amortization

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