Determining the loan amortization schedule
John borrows $150,000. The terms of the loan are 7.5% over the next 5 years. It is important to note that he makes annual rather than monthly payments.
Construct a loan amortization schedule that shows the 5 payments of John's loan.
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If you deposit $2,500 in a bank account that earns 8% annually on a continuously compounded basis, what will be the account balance in 7.14 years?
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